An Keun-Baeg, CEO of KANAVI MOBILITY (L), Hong Seok-Min, CEO of FESCARO (R) (Source=FESCARO)

On May 27, FESCARO (CEO, Seok-min Hong) and KANAVI MOBILITY (CEOs, Jung Jong-Taek and An Keun-Baeg) teamed up with a Memorandum Of Understanding (MOU) on cooperative development of next-generation controllers for SDVs (software-defined vehicles).

KANAVI MOBILITY specializes in automotive electronics systems that develop automotive clusters (instrument panels), infotainment systems (IVI), and autonomous driving lidar sensors. FESCARO specializes in future mobility software solutions, developing automotive cybersecurity and next-generation controller software and hardware optimized for customers. Both companies plan to solidify the competitive edge in the SDV market by focusing on developing new businesses related to next-generation controllers which holds high future value.

Starting with the IVI controller software development project for global automotive customers, they will continue to build a collaboration model to enhance development efficiency. They plan to create synergy through close partnership and controller development expertise. An Keun-Baeg, CEO of KANAVI MOBILITY, said, "With FESCARO, we plan to secure new momentum for growth and expand our market share by actively pioneering overseas markets based on global network.“

Hong Seok-Min, CEO of FESCARO, expressed his ambition: "To lead the SDV market, we will accelerate the development of next-generation controllers by utilizing the capabilities of both companies in future mobility technology."