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Daewoo
January 5th, 2008 by Shenron
Daewoo was founded in March of 67 by Kim Woo-jung, and it became of the largest South Korean car manufacturers in the country with three others (collectively they were known as the big four). In the beginning they started modestly until they were able to expand slightly and grow some market share… and then they were able to get government sponsored support – and they hadn’t even built a car yet. It was not until the late 70s and early 80s that the country needed to get more business going for electronics and motor goods – and they had a huge labor force potential too. In 1982 the Daewoo group (who had erstwhile been forced into shipbuilding by the government) came into control of what was once called National Motor – and then it was called Naenara Motor – and then it was called Shinjin Motor – and finally it was Saehan Motor. Well, anyways, Daewoo gained control and changed the name to Daewoo Motor and began manufacturing vehicles, and met with great success. So much so that they began to expand quickly and build up more and more – there was no stopping the Daewoo. Well, that’s what they thought.
In 01 GM decided to buy Daewoo by taking all their shares up and then renaming it GM Daewoo, well that worked for a while, until they needed plants. No trouble there though, GM plans to buy back the plants (you see they got the rights for the name and the cars but not the fifteen plants that made the cars and SUVs) in 2008 so that they maintain control over the brand. Recently a few new models were in development and released based on some of the Chevrolet designs along with the GM platforms, enabling the Daewoo brand to live on under GM and keep sales up with better cars that keep up with the current trend in buying and such. The current plants that they have are capable of producing more than 900,000 cars, and with the new plant being bought over a million in capacity can be produced if used at peak levels consistently.
Tags: Car Brands, Daewoo
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