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GM Daewoo is about undergo a total overhaul on its operations by phasing out the Daewoo brand in place of Chevrolet by the end of Q1 of this year. That would be spring time for those of you unfamiliar with quarterly things. Additionally, all of Daewoo’s current and new products will be assembled and sold as Chevrolet’s going forward. A bold move, indeed. What’s more, is that the company will change its identity from GM Daewoo Auto & Technology Co., to GM Korea Co. Continue reading.
GM Daewoo has another achievement to add to an already-growing list of accomplishments: The General’s Korean subsidiary has just celebrated building the 25 millionth powertrain at its Bupyeong headquarters in South Korea. 13.3 million engines and 11.7 million transmissions have rolled off GM Daewoo’s factories since 1971. So far in 2010, GM Daewoo has built a record number 2.5 million engines and transmissions. Daewoo’s success is most likely related to the boom of the Chevrolet Cruze compact, which, under one name or another, is currently sold in every continent in the world except for Antarctica. Continue reading.
GM is not only having a breakthrough in the U.S. and China, but in South Korea as well. In fact, GM Daewoo is doing well enough to pay off $1 billion in revolving credit that it drew out last September. Nicely done.
GM Daewoo CEO Mark Arcamone being presented with the $8 Billion Export Tower.
Hard work pays off. Example: GM Daewoo received the $8 Billion Export Tower Award at 47th Trade Day ceremony. No, it’s not really a tower per se, and it’s not really worth $8 billion – but it’s prestigious nonetheless. At least in South Korea. Continue reading.
In order to achieve up to a 10 percent improvement in fuel economy, General Motors is looking into consecutive variable transmissions (CVT) for their lineup of small cars such as the Chevrolet Spark (due in the U.S. in early 2012), next gen. Aveo (due out next year) and the recently-launched Cruze. The branch responsible for developing these three models is The General’s Daewoo division, located in South Korea, and they’re looking to have CVTs installed by the next model change for each vehicle. Continue reading.
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