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Mando shareholders have authorised a approach to split off its autonomous driving and aspect of the mobility business as a wholly owned subsidiary.
The exclusive resolution was handed, the provider reported, “with a great deal guidance from majority of its shareholders who voted in favor of the resolution as per the suggestions from important domestic and international investor advisory organisations”.
Mando Mobility Solutions (or MMS) will launch on 1 September.
President Cho Seong-Hyeon reported: “Mando is now outfitted with a new driving motor via this split,” and “we will make just about every work to carry optimistic value to our shareholders and to society by accelerating advancement of autonomous driving technology”.
The first Mando will be positioned as a “clean technology provider concentrated on EV solutions”.