Mando, a subsidiary of Halla Group, has announced its vision to achieve 9trillion KRW (about $8.07 billion) in revenue by 2025. The company said the target will be achieved through two core businesses: ' EV Solutions (electrified chassis products and with new xEV related businesses)' and 'Autonomous Driving (ADAS & mobility solutions)'.
Elaborating on the key strategies, the company said Mando will grow as a highly focused EV solutions company through chassis (brake, steering, suspension) electrification. In contrast, the new company Mando Mobility Solutions (MMS), a spin-off of Mando, will position itself as a 'specialised autonomous driving and mobility company.
The company announced that its Board of Directors has approved its plan to spin-off its 'Autonomous Driving (ADAS)' business. Accordingly, Mando will maintain its managerial control over the new company to create synergy between the two entities and strengthen its position as an integrated chassis system solutions leader.
The company said 'MMS tentative,' the new company, will emerge as a specialised autonomous driving solutions provider within fields of autonomous vehicles parts, autonomous robots, and mobility services. To create business synergy for autonomous driving, MHE (Mando-Hella Electronics) will become a wholly owned subsidiary of MMS.
Cho Seong-Hyeon, Mando's President & Representative Director, has said that the specialisation of core businesses is inevitably required for Mando to actively respond to the rapidly changing market.
MMS and MHE aim to achieve 2trillion KRW (about $1.79 billion) in revenue by 2025', an increase of 800 billion KRW from that of the 2021 business plan.
Mando, the existing company, aims to become a highly focused EV solutions company by leveraging its business experiences with global leading EV companies and advancing software solutions. The core business pillar of the company is electrified chassis products (brake, steering, suspension), and xEV specialised products such as e-Drive (engine) for EVs , e-Corner module (integrated module of electrified chassis), and hydrogen car battery charging converter are under the development.