SEOUL -- Mando Corp., a leading auto parts maker affiliated with South Korea's Halla Group, forged an alliance with FuturePlay, a Seoul-based startup investor, to support the development of next-generation car technologies.
Mando said in a statement on Tuesday that it would launch a special program to nurture startups with unique future car technologies. "We will utilize resources from startups to survive in the rapidly changing market," a Mando official was quoted as saying.
Mando said it would pick startups with good potentials and provide financial support and an in-house mentoring program for employees. FuturePlay will manage the project and develop patents.
Mando provides break parts and steering systems to global carmakers such as General Motors, Ford, BMW and Volkswagen. It has beefed up the lineup of its driver assistant systems which include automated emergency brakes, smart cruise control parts and smart parking systems.
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