Minda Corporation Announces Technology License & Assistance Agreement with Daesung Eltec, Korea for Advanced Driver Assistance System

Minda Corporation Limited, 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.

Minda Corporation Announces Technology License & Assistance Agreement with Daesung Eltec, Korea for Advanced Driver Assistance System

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 the technology 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 and Daesung Eltec believe in providing best solutions backed with cutting-edge, futuristic technology. Underlining our focus, this progressive partnership is a successful convergence of two key priority areas, technology and customer-centricity.”

“The association will help us strengthen our existing relationship with the leading OEMs by becoming a complete solution provider as well as expanding into new customer base.” he added.

Daesung Eltec is one of the key players in the automotive electronics industry and specialises in In-Vehicle Infotainment, ADAS, Audio, AMP, Monitor among others. It also has its inhouse R&D centre and manufacturing facilities in Korea and China.