Mando to Launch Autonomous Driving Business Subsidiary in September... Physical Division Approved at General Meeting

[Asia Economy Reporter Ki-min Lee] Mando announced that it has received approval for the physical division plan of its autonomous driving business division at the extraordinary general meeting of shareholders held on the 20th.

The special resolution, which received 85.0% approval out of 66.9% of the total shares present, was passed with the support of investors following favorable opinions from major domestic and international proxy advisory firms, Mando explained.

Accordingly, the newly established company Mando Mobility Solutions (tentative name, MMS), responsible for mobility businesses such as unmanned patrol robots, unmanned electric vehicle chargers, and cloud platforms, will launch on September 1.

MMS, which will prioritize the advancement of autonomous driving technology and business expansion, plans to secure specialized personnel and cutting-edge technology while actively executing global marketing.

Through this physical division, Mando aims to optimize investment and operations by business sector and strengthen expertise in its two main business pillars: autonomous driving and EV solutions (chassis electrification and new EV business).

Jung Sung-hyun, Mando’s CEO, stated, "Through this division, Mando has grown new wings," adding, "Above all, we will accelerate the development of advanced autonomous driving technology at the new company and repay our customers and shareholders with fully autonomous driving."

This content was produced with the assistance of AI translation services.