LIPPSTADT, Germany & SEOUL, Korea -- Hella and automotive supplier Mando Corp. of Seoul, Korea, recently formed a joint venture company to develop new generations of active-passenger car-safety systems.

The new joint venture will be primarily focused on Korean car manufacturers, with both partners holding a 50 percent share. Hella and Mando expect to bundle their specific competencies in the fields of chassis systems, chassis electronics and driver assistance systems for the Korean market.

Mando Hella Electronics will be headquartered near the Korean capital of Seoul and will have an investment volume of more than $65 million. A new production facility is planned for 2009.