Mando spins off autonomous driving business

Mando, an auto parts maker affiliated with Halla Group, will spin off its autonomous driving (ADAS) business. The goal is to achieve sales of 9 trillion won by 2025 by building the autonomous driving business that separates from the existing electric vehicle solution business.

Mando announced on the 9th that it will divide unmanned patrol and unmanned electric vehicle charging and platform division on September 1st to establish Mando Mobility Solutions (tentative name).

Mando will hold an extraordinary shareholders'meeting on the 20th of next month. MMS, a new corporation, will focus on automobile parts, autonomous robots, and mobility services needed for autonomous driving.

Mando Hella Electronics (MHE), a company specializing in autonomous driving electronic components, will be incorporated into a 100% subsidiary of MMS for business synergy.

It plans to increase its customer base to the North American market, including China and India, MHE's overseas strongholds.

Mando, a subsidiary, has decided to focus on the electric vehicle solution business. Based on the chassis electrification system, the company plans to expand production of related products such as engines for electric vehicles and integrated modules for chassis electrification.

Reporter Lee Ji-sun stockmk2020@gmail.com