Daewoo Motors
Defunct South Korean automotive company / From Wikipedia, the free encyclopedia
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This article is about the history of the automotive division of Daewoo. For its successor, see GM Korea.
Daewoo Motors (/ˈdeɪwuː/ DAY-woo) was a South Korean automotive company established in 1937 as "National Motors". The company changed its name several times until 1982 when it became "Daewoo Motors" following its acquisition by the Daewoo Group. After running into financial difficulties,[3] it sold most of its assets in 2002 to General Motors at $1.2 billion, becoming a subsidiary of the American company. In 2011, the name "Daewoo" was definitively removed with the company being renamed GM Korea and the Daewoo brand replaced by the Chevrolet marque.[2][4]
Quick Facts Formerly, Company type ...
Formerly |
|
---|---|
Company type | Private (1935–65) Subsidiary (1978–1999) |
Industry | Automotive |
Founded | 1937 |
Defunct | 2002; 22 years ago (2002) [2] |
Fate | Bankrupt, acquired by General Motors in 2002, restarted as GM Daewoo |
Successor | Daewoo Commercial Vehicle GM Korea |
Headquarters | , |
Products | Automobiles |
Parent |
|
Subsidiaries | SsangYong (1998–2000) |
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