GM Daewoo investing another $3.2 billion
Filed under: GM
Prior to General Motors buying a controlling interest in South Korea’s Daewoo Motors in 2002, negotiations dragged on forever as GM apparently wanted to wait until the last possible moment to get the best price while still having something worth rescuing. Since then, GM Daewoo has made a pretty decent recovery, with sales on the rise in many markets around the world, including the US.
GM Daewoo announced today that it will invest another $3.2 billion over the next few years in updated products and possibly expanding production capacity. Daewoo sales are projected to increase by about 20 percent this year, thanks to increased sales in Europe and North America with models like the Chevy Aveo and its many global variants. Outside of South Korea, most Daewoos are branded as Chevrolets, as well as Pontiacs, Suzukis and Holdens.
[Source: Automotive News]
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