Mando

Anand Group and South Korea's Mando Corporation will establish a joint venture, ANAND Mando eMobility Pvt Ltd, to manufacture and market electric vehicle components for two- and three-wheelers in India, with a planned manufacturing facility in Rajasthan.

Mando Corp. has won a 1.4 trillion won ($1.2 billion) order from Volkswagen AG to supply 50 million suspension system components, including shock absorbers and struts, over 12 years starting June 2022.

Mando has secured a contract from Volkswagen Group to supply approximately 50 million suspension parts (for 12.5 million vehicles) worth about 1.4 trillion won, with supply from the second half of 2022 to 2033.

Mando signed a share purchase agreement to acquire 100% of Mando Hella Electronics (MHE), a joint venture between Halla Holdings and HELLA, for KRW 165 billion. The transaction is expected to close in Q1 2021.

Daewoo Electronic Components Co Ltd signed a 23.8 billion won contract with Mando Corporation to supply Gen3 OBC battery chargers for five years.

Daewoo Parts (Daewoo Component) signed a KRW 25.2 billion contract to supply OBC (On Board Charger) assemblies to Mando for electric vehicles, from September 2017 to end of 2020.