Mando announces completion of China auto parts R&D centerMando, the nation’s second-largest auto parts maker, said yesterday it has completed expansion of its R&D Center in China and aims to accelerate its growth in the world’s largest auto market.
The affiliate of Halla Group has had a research center in China since 2003, but as the market grew it decided to build a new R&D Center.
Halla Group Chairman Chung Mong-won said 4.6 percent of Mando’s revenue will be invested in R&D this year and 5 percent in the near future.
Mando last year reported sales of 1.3 trillion won ($1.2 billion) in China.
The new R&D center can accommodate test driving areas and 260 researchers. The company also has R&D centers in the United States, Germany and India.