Kolon Mobility Group announced on the 9th through a board meeting that it has decided to spin off the BMW and MINI brand businesses through a physical division.
This division is a simple physical division in which Kolon Mobility Group will own 100% of the shares of the newly established unlisted company. The new company will officially launch on September 1st after approval at the extraordinary general meeting scheduled for the 21st of next month. The new company's name is 'Kolon Motors.'
Accordingly, Kolon Mobility Group will have six subsidiaries under its umbrella for each brand, including the BMW dealer 'Kolon Motors,' Audi dealer 'Kolon Auto,' Volvo car dealer 'Kolon Automotive,' and Jeep dealer 'Kolon J Mobility.'
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