Jump to content
  • Greetings Guest!

    CheersandGears.com was founded in 2001 and is one of the oldest continuously operating automotive forums out there.  Come see why we have users who visit nearly every day for the past 16+ years. Signup is fast and free, or you can opt for a premium subscription to view the site ad-free.

Sign in to follow this  

GM to invest $6 billion in Daewoo

Recommended Posts

GM Will Invest $6 Billion in Daewoo
Posted Image
Date posted: 07-26-2007 | Link to Original Article @ Edmunds

DETROIT — General Motors plans to invest more than $6 billion in its Korean affiliate, Daewoo Automotive Technology (GMDAT), over the next four years.

Details of the plan were revealed by Michael Grimaldi, president and chief executive of GMDAT, which has evolved into a major small-car development center for GM.

Based near Seoul, GMDAT has been increasing its sales and market share in South Korea with a series of new vehicles, including the G2X roadster, a companion to the Pontiac Solstice and Saturn Sky, and the Winstorm, a sister model to the new Saturn VUE.

More importantly, GMDAT has become a major exporter of vehicles to other countries in the region, Grimaldi said, and it provides design and engineering for a number of vehicles built at GM facilities in China, Europe and other parts of the globe.

"We're investing more resources in design [and] engineering. We're looking forward to the introduction of our new mini and small cars that will come to markets around the world in the next several years," Grimaldi said.

Share this post

Link to post
Share on other sites

Your content will need to be approved by a moderator

You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets



Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.