DAEWOO. DAEWOO in KOREA
GM-Daewoo Auto & Technology,
199-1,
Cheongcheon-Dong,
Bupyung-Gu,
Incheon 403-714, Korea
tel. +8232/5202114,
fax +8232/5204609, http://www.gmdaewoo.co.kr
Models produced in Korea:
Matiz, Kalos (hatchback V, sedan), Lacetti (hatchback 5, sedan 4, station wagon SW),
Magnus, Rezzo, Damas II, Labo pick-up; models produced in Australia: Statesman.
Production volume in Korea in 2003 - 618,762 passenger vehicles
and 6,784
pick-ups
(with Chevrolet and Suzuki).
In 1937 National Motor Co. launched the assembly of Japanese
trucks. In January 1962 the firm was renamed Saenara Motor Co., which assembled the Nissan Bluebird
under the Saenara trademark from 1962-65. In November 1965 the firm was acquired by
Shinjin Industrial Co. Established in February 1955, Shinjin was a bus producer and
later launched the first, original Korean Shin-sungho sedan from November 1963 to 1964. From May
1966 until November 1972, Shinjin Motor Co.
(as the combined factories were known) assembled passenger vehicles by Toyota
under the Shinjin trademark. In June 1972 the GM Korea joint venture was founded (with
exactly half of shares belonging to Shinjin Motor Co. and General Motors each),
which began the assembly of the Opel Rekord and small Chevrolets under the
Shinjin trademark as of August 1972. In January 1973 Korea Development Bank acquired the Korean
Shinjin concern and hence 50% of the GM Korea joint venture. In November 1976 the company name was
changed to Saehan Motor Co. and the retail trademark from Shinjin to Saehan. In
July 1978
the
Korean-owned 50% share in Saehan Motor was acquired by Daewoo Industrial Co., set up in 1967 (the other 50% share still
belonged to GM). In
January 1983
the
company’s name was changed again, this
time to Daewoo Motor Co and the trademark to Daewoo. In the second half of the
80s, assembly operations
were replaced by vehicle production. In 1991 a branch of Daewoo Industrial
Minivehicles Division (no connection to GM) launched construction of the Tico
model (under a Suzuki Alto license of 1988-94) and the Damas / Labo (Suzuki Super
Carry 1985-97).
In
October 1992
General
Motors withdrew from the company and Daewoo acquired the following firms: in 1994 - 51% of Romanian Automobile
Craiova SA-Oltcit, in 1995 - 33% of Czech firm Avia (a share increased in 1996 to 50.2%), in 1996 -10% of FSO (increased in
1997 to 81,9%, then to 88,67% and in 2003 to 80%). In the years 1998-2000 Daewoo owned 51,7% of SsangYong shares,
in the years 1995-2001 - 61 to 90% of FS Lublin/Poland and from 1998-2002 - 50% of ZAZ/Ukraine
shares. In October 2002 44,6% of Daewoo shares were acquired by GM Holden, 14,9% purchased by Suzuki, 10,6% garnered by the
Chinese SAIC concern and the remaining 29,9% by banks, while the firm was
renamed GM Daewoo Auto & Technology. In October 2002 the last independent Daewoo
factory in Bubyong was transformed into Daewoo Incheon Motors Corp., which
produces Kalos and Magnus models for GM Daewoo. The joint venture also owns
foreign branches (with the exception of VIDAMCO in Vietnam, which belongs to GM
Daewoo). Excluding Korea and some European, Asian and African countries, Daewoo
vehicles have been sold since 2003-05 under the Chevrolet trademark (in South America also
under the Suzuki and Pontiac trademarks). Daewoo passenger vehicles are made: in
Korea, Poland (1995-2004), Romania (since 1996), Uzbekistan (since 1996 UZ-Daewoo) and Egypt (since 1998) as well as
assembled
in Ukraine (since 1998 by ZAZ), Vietnam (since 1995) and Iran (1996-2004). As of 2003 Daewoo cars are also made under
the following trademarks: Chevrolet (since 2003 in Korea, India, Thailand and
China, since 2004 in Ukraine, Columbia and Venezuela and since 2005 in Pakistan), Pontiac (since 2004 in Korea), Suzuki
(since 2003
in
Korea) and Buick (since 2003 in China). Since 2001 vehicles have also been built
under a Daewoo license and the Formosa trademark in Taiwan and in Poland since
2004 under the FSO
trademark. Latest premieres: 2002 Seoul Motor Show - Lacetti sedan, Magnus
restyling, Flex and Oto concept cars; Geneva 2003 - Scope concept car; summer 2003 - Damas II;
Frankfurt/Main 2003 -Lacetti hatchback and Rezzo / Tacu-ma restyling; Geneva 2004 - Lacetti Wagon;
summer 2004 - Lacetti Sedan restyling; Paris 2004 - Kalos 3-door, the Matiz M3X
and S3X SUV prototypes; January 2005 - second generation
Matiz; Seoul 2005 - Statesman, Lacetti SW and concept car crossover T2X. In October 2002 production of the
Leganza sedan was terminated, followed in 2003 by the Lanos and Nubira I
models (in Korea). Plans for the future: 2005 - an SUV based on the S3X; 2006 - the new Magnus; 2007 - a new Rezzo. In 2003
GM Daewoo, in
cooperation with Daewoo Incheon, produced 735,020 passenger and
delivery vehicles in nine countries (as Daewoo, Chevrolet in Korea, Suzuki in
Korea, UZ-Daewoo, Polonez, excluding Avia, ZAZ and Formosa).
DAEWOO STATESMAN
DAEWOO STATESMAN
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