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[Alpha Biz=(Chicago) Reporter Paul Lee] KG Mobility has been selected as the final buyer of electric car maker Edison Motors.
Edison Motors has been in the process of mergers and acquisitions before approval since the court decided to start the corporate rehabilitation process in January.
Following KG Mobility's submission of a letter of intent to invest in Edison Motors in March, it was selected as the preferred bidder in May and became the final buyer.
KG Mobility plans to develop Edison Motors into a comprehensive commercial vehicle company through automobile development know-how and experience in changing corporate quality through rehabilitation procedures.
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