Shareholders approve Mando plan to separate ADAS unit

Mando shareholders have authorized a program to split off its autonomous driving and component of the mobility enterprise as a wholly owned subsidiary.

The special resolution was passed, the supplier said, “with much help from the vast majority of its shareholders who voted in favor of the resolution as for each the tips from important domestic and world-wide investor advisory organisations”.

Mando Mobility Methods (or MMS) will start on 1 September.

President Cho Seong-Hyeon said: “Mando is now equipped with a new driving engine as a result of this split,” and “we will make each effort and hard work to provide optimistic benefit to our shareholders and to society by accelerating improvement of autonomous driving technology”.

The primary Mando will be positioned as a “clean technology service provider centered on EV solutions”.