Minda Corporation announces Technology License & Assistance agreement with Daesung Eltec, Korea for Advanced Driver Assistance System (ADAS)

Minda Corporation Limited (referred to as “Minda Corp” or the “Company”; NSE: MINDACORP, BSE: 538962), the flagship company of Spark Minda has entered into a technical collaboration with DAESUNG, Korea, the leading automotive electronics company to bring the Next Gen Advanced Driver Assistance System (ADAS) solutions to the Indian automotive market. Both companies signed the Technology Licence and Assistance Agreement (TLA) on October 28th, 2022. This partnership places Spark Minda ahead of technology curve by providing localised ADAS solutions for the Indian market. it also aligns with the company’s vision of becoming a next generation ADAS solutions provider with thetechnology being inducted into Minda’s capabilities. Announcing the collaboration, Mr. Aakash Minda, Executive Director – Minda Corporation said, “ADAS is a critical, futuristic technology with early signs of its adoption already visible in the Indian market. Current estimates from leading car manufacturers project that ADAS features relating to autonomous driving will become near ubiquitous in the next few years. We are happy to announce our partnership with Daesung Eltec which brings in more than four decades of rich experience in the automotive electronics industry. With this TLA, Minda Corporation will be one of the early movers providing localised solutions in the domain. Both Spark Minda