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Hella KGaA Hueck & Co., Lippstadt, Germany, and automotive supplier Mando Corp., of Seoul, Korea, recently formed a joint venture company to develop new generations of active-passenger car-safety systems.
The new joint venture will be primarily focused on Korean car manufacturers, with both partners holding a 50 percent share.
The two partners expect to bundle their specific competencies in the fields of chassis systems, chassis electronics and driver assistance systems for the Korean market.
Mando Hella Electronics will be headquartered near the Korean capital of Seoul and will have an investment volume of more than $65 million. A new production facility is planned for 2009.
Dr. Jürgen Behrend, chairman and president of Hella KGaA Hueck & Co. and Mong Won Chung, chairman of Mando Corp./Hella Group, noted at the signing of the joint venture agreement that the basis for the good relations between both partners was already set in the 1990s. At that time, Mando and Hella worked closely together in the development of anti-lock braking systems (ABS).
“After this successful collaboration, it seemed natural to bring together Mando’s competencies in chassis systems and Hella’s experience in automotive electronics to jointly develop innovative vehicle safety systems for Korean car manufacturers,” Behrend says.
For more information, visit www.hella.com.
