Daewoo Motors Company was a South Korean automobile manufacturer that was founded in 1967. The company was acquired by General Motors in 2002 and was renamed GM Daewoo. In 2011, GM decided to discontinue the Daewoo brand and sell its assets to various buyers.
Daewoo Motors Company produced a wide range of vehicles, including cars, trucks, buses, and vans. Some of the most popular Daewoo models included the Lacetti, the Matiz, and the Nexia. The company also produced a number of commercial vehicles, such as the Daewoo Novus truck and the Daewoo BH116 bus.
Daewoo Motors Company was founded in 1967 as Shinjin Motors. The company was renamed Daewoo Motors in 1976. In the 1980s and 1990s, Daewoo Motors became one of the largest automobile manufacturers in South Korea. The company's success was due in part to its aggressive marketing campaigns and its focus on producing affordable vehicles.
In 1999, Daewoo Motors Company was acquired by General Motors. The acquisition was part of GM's strategy to expand its presence in the Asian market. GM renamed the company GM Daewoo and continued to produce Daewoo-branded vehicles.
In 2011, GM decided to discontinue the Daewoo brand and sell its assets to various buyers. The decision was made due to the company's financial problems. The assets of GM Daewoo were sold to a number of companies, including SAIC Motor Corporation, the largest automobile manufacturer in China.
Daewoo Motors Company was a major player in the global automobile industry. The company produced a wide range of vehicles that were popular in many countries. The company's legacy continues today, as many of its former employees are now working for other automobile manufacturers.