Posts Tagged ‘Daewoo’

GM Signs MOU for Small Vehicle Production in Uzbekistan

Thursday, February 11th, 2010
GM Uzbekistan MOU ceremony
© GM Co.

Seoul — Representatives from General Motors Company and UzAvtoSanoat of Uzbekistan signed a Memorandum of Understanding (MOU) today in Seoul for their GM-Uzbekistan joint venture to launch the production of a new small vehicle mainly destined for emerging markets.

The MOU was signed by GM Daewoo Vice President of Product Planning & Program Management Dwenell Mills and UzAvtoSanoat Vice Chairman Shukhrat Yusupov in the presence of GM Daewoo President and CEO Mike Arcamone and Republic of Uzbekistan First Deputy Prime Minister Rustam Azimov. (more…)

GM DAT Raises US$412 Million in Equity Rights Issue Through an Investment by its Majority Shareholder, General Motors

Friday, October 23rd, 2009

Seoul — October 23, GM Daewoo Auto & Technology Co. (“GM DAT”) announced today that it raised KRW 491.2 billion (US$412 million) in an equity rights issue through an investment by its majority shareholder, General Motors Company (“GM”). GM DAT will use the proceeds, which will be received by October 28, for general corporate purposes, including funding the repayment of maturing debt.

Other shareholders in GM DAT — the Korea Development Bank (“KDB”), Suzuki Motor Corp. (“Suzuki”) and Shanghai Automotive Industry Corp. Group (“SAIC”) — chose not to subscribe to the equity rights issue. In the absence of other shareholders exercising their rights, GM decided to subscribe for the entire issue. (more…)

GM Daewoo Introduces New Matiz Creative Global Mini-Car

Wednesday, August 19th, 2009
Daewoo Matiz Creative
© GM Corp.

Seoul, Korea — GM Daewoo Auto & Technology (GM Daewoo) today launched its all-new global mini-car, the Matiz Creative. The new mini will go on sale from September 1.

“The Matiz Creative is an all-new mini-car developed at GM Daewoo, the global vehicle development center for GM's mini and small cars,” said Michael Grimaldi, President and CEO of GM Daewoo. “With its best-in-segment design, performance and safety, the new mini is destined to become an industry benchmark and a winner among consumers in Korea and around the world.”

Based on GM's global mini-vehicle architecture, it took 27 months to develop the Matiz Creative. (more…)

GM Daewoo Introduces All-New Lacetti Premiere Dynamic Compact Sedan

Wednesday, October 29th, 2008
GM Daewoo Lacetti Premiere 2008
© GM Corp.

Jeju, Korea — GM Daewoo Auto & Technology (GM Daewoo) today rolled out its all-new dynamic global compact sedan, the Lacetti Premiere, on the scenic island of Jeju.

“The Lacetti Premiere is the first member of the next generation of segment-leading products for GM Daewoo,” said Michael Grimaldi, President and CEO of GM Daewoo. “Working together with GM's global design and engineering teams has resulted in a vehicle that is destined to be a global benchmark and a sales winner with consumers at home and abroad.”

Based on GM's global compact vehicle architecture (more…)

Holden Delivering New Luxury to South Korea

Thursday, September 4th, 2008
GM Daewoo Veritas
© GM Corp.

GM Holden today presented its newest export program — the GM Daewoo Veritas, a long wheelbase luxury flagship tailored for the demanding South Korean market.

GM Holden is building Veritas at its vehicle assembly plant in Elizabeth, South Australia, and the Global V6 engine at its engine operations plant in Port Melbourne, Victoria.

GM Holden Chairman and Managing Director, Mark Reuss, today described the vehicle as a great addition to Holden's export portfolio demonstrating the company's reach and flexibility. (more…)