Car-parts maker Mando has the right idea carving out its autonomous-tech unit. But the company is keeping full control and not raising any new money. For now, the partial overhaul offers shareholders a shabby ride AntonyMCurrie
South Korean car-parts maker Mando said on June 9 that it plans to “split off” its autonomous-driving business, which will be renamed Mando Mobility Solutions. The parent company, which intends to be a “highly focused EV solutions” business, will retain full managerial control over the new entity.
Shares in Mando, which is 30% owned by conglomerate Halla Holdings, were down more than 9% in morning trading on June 10.Vehicles travel in a traffic jam during rush hour, amid concerns about the spread of the coronavirus disease , in Seoul, South Korea, April 23, 2020. REUTERS/Kim Hong-Ji - RC2BAG9S4OVW
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