New firm Mando Mobility Solutions to form in September
Mando will split off its autonomous driving business unit to form a new company.
On Tuesday, Mando’s board passed the motion for the split, after over two third of its shareholders approved of the move.
Called Mando Mobility Solutions (MMS), the new company will form in September 1.
Its management will be formed within this month, Mando said.
MMS will be looking to expand into North America, China and India.
Mando said the subsidiary will aim to offer complete autonomous driving.
The parent company will focus on offering chassis and other electric vehicle solutions.
It will offer electric drive, electric corner module and hydrogen fuel-cell converters to automobile companies, Mando added.
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