S.Korea's Mando plunges; analyst sees higher competition with Hyundai Mobis

HL Mando

24/09/2019 06:45

** Shares of Mando Corp  204320.KS , South Korea's No.2 auto
parts maker after Hyundai Mobis  012330.KS , fall as much as
10.8%, with an analyst forecasting intensifying competition with
Mobis over self-driving vehicle technologies
    ** South Korea's Hyundai Motor Group says to invest $1.6 bln
in a joint venture to develop self-driving vehicle technologies
with Aptiv  APTV.N   urn:newsml:reuters.com:*:nL5N26E571
    ** The JV would intensify the competition between Mando and
Mobis over advanced driver-assistance systems, Moon Yong-kwan,
an analyst at Shinyoung Securities says in a report
    ** Following the JV announcement, shares of Hyundai Motor
 005380.KS  and its auto parts unit Mobis gain  urn:newsml:reuters.com:*:nL3N26F02J 
    ** The broader KOSPI market  .KS11  was trading up 0.3%

 ((Hayoung.Choi@thomsonreuters.com; +82 2 6936 1468))