Mando has said it has set up a 65bn won joint venture with Germany’s auto parts supplier Hella KGaA Hueck & Co.
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A deal was signed today to form the 50:50 venture to produce devices that assist drivers in parking their vehicles or recognise the lane that a vehicle is travelling in, Mando said in a statement.
The venture, named Mando-Hella Electronics, will start building a plant in South Korea early next year and begin production in July of the same year, according to the statement.
