Edison Motors Doubles Last Year's Revenue with Electric Bus Orders in First Half of the Year

[Asia Economy Reporter Park So-yeon] Edison Motors, an affiliate of Semisysco, a KOSDAQ-listed company, announced that the 2021 model SMART 110, which greatly reflects consumer needs, was newly released, resulting in bus orders in the first half of the year reaching 177 billion KRW, nearly 200% of last year's sales.

An Edison Motors official stated, "Since most electric bus sales occur in the second half due to the characteristics of the transportation industry, with additional bus sales and pre-orders for the 1-ton electric truck added, domestic sales this year are expected to exceed 250 billion KRW."

Edison Motors succeeded in commercializing the world's first electric bus in 2010 after developing the Korean-style CNG low-floor bus standard model in 2005. It is a strong small and medium enterprise boasting unrivaled technology in the eco-friendly bus market and was the top-selling electric bus company in Seoul in 2020.

The core technology of Edison electric buses is battery stabilization technology. The 3rd generation Smart BMS developed by affiliate Edison Tech not only monitors all battery information but also tracks and analyzes usage environment and patterns, enabling customized battery management that significantly improves battery performance and lifespan.

Edison Tech’s battery pack demonstrated outstanding technology by passing safety inspections at once conducted by the Hwaseong Transportation Safety Authority's Automotive Safety Research Institute in 2019.

Additionally, the MSO-Coil motor for electric vehicles, co-developed with the Korea Institute of Industrial Technology, applies new technology that secures a winding ratio (dot ratio) of over 90%. Based on high thermal stability, it is advantageous for high output and miniaturization of electric vehicle drive motors, contributing to improved fuel efficiency.

Meanwhile, at the Semisysco extraordinary general meeting of shareholders to be held on the 23rd, business purposes such as autonomous driving solutions and platform development, electric ships, and secondary battery development and manufacturing will be added. To actively collaborate on the electric vehicle business with Edison Motors, a strong SME in electric vehicles, new directors including CEO Kang Young-kwon of Edison Motors and automotive industry experts Han Cheon-su, Lee Jeong-ik, and Yoon Yong-jin will be appointed.