SEOUL -- Mando Corp., a leading auto parts maker in South Korea, has signed a contract to provide parts to Future Mobility Corp (FMC), a Chinese electric-car startup which has unveiled its first sport utility vehicle concept model targeting global clients.
Mando, a Halla Group unit, said Monday it would rack-type electric power steering (R-EPS), steering wheel column, electronic brakes and other parts for Byton from late 2019. The company did not disclose financial terms.
Byton is a brand of Future Mobility established by a team of former executives from BMW and engineers who worked for Google and Tesla. At a motor show in Las Vegas in January, the Chinese company unveiled its first SUV concept car that will hit the market in 2019. Mando's sales in China stood at more than 1.6 trillion won ($1.49 billion) last year, or 30 percent of its global sales.
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