Mohenic Garages held its 3rd Annual General Meeting of Shareholders at its headquarters on the 25th and approved agenda items including the appointment of outside directors and the granting of stock options. Along with this, it declared its leap forward as a specialized manufacturer of electric vehicles.

The official name of Mohenic’s regular general meeting is ‘MOFAM DAY,’ and the number of Mohenic Garages shareholders has now exceeded approximately 600. With this number expected to increase as the company recently expanded into crowdfunding, Mohenic analyzes that the source of its growth to reach its current position is 'fandom' and plans to further strengthen its competitiveness by reorganizing into a 'cooperative' in the future.

Mohenic has focused on securing automotive manufacturing and production technology since launching its automotive rebuild business in September 2014, and entered the chemical sector necessary for automotive maintenance in 2016. Subsequently, in 2017, it is establishing the 'Mohenic Power Factory' in Yeongam, Jeonnam, which will be used as an outpost for its electric vehicle project.

The company has expanded its business scope beyond just rebuilding to open a classic car division encompassing all vehicle types, and has also ventured into clothing and accessories. Recently, it received official approval as a handcrafted motorcycle manufacturer and unveiled a limited edition of 100 premium handcrafted bikes. Along with this, it is demonstrating multifaceted moves, such as establishing a finance division and settling into the financial sector.


Mohenic CEO Kim Tae-sung announced that an electric vehicle production presentation is scheduled for the end of May, stating, “Mohenic Garages, which has grown through the power of collective intelligence, is consolidating its efforts with the imminent entry into the electric vehicle market in 2017.” He further expressed confidence, saying, “With the support of the shareholders gathered at the general meeting, we will grow Mohenic Motors into a specialized electric vehicle company representing South Korea that is on par with Tesla of the United States, and lead the industry.”