GM Daewoo may be renamed Chevrolet

President Mike Arcamone GM Daewoo has decided to rename the company, and may be a Chevrolet.
GM Daewoo spokesman announced this on 4 / 3.

"We expected to discuss this issue with the dealer and trade unions. Announced specific about the company will change its name before opening car Busan Exhibition 2010 took place on 29 quarters, "GM Daewoo spokesman said.

According to GM Daewoo, the board will select a company in two directions: always change its name to Chevrolet, or use both parallel and then gradually move permanently named to the new name.

Unions fear that companies will take the GM Daewoo brand identification and become part of a group of GM accessories if such name change.

Starting from today is GM Daewoo Automobile Manufacturers National Motor was established in 1937 in Bupyeong-gu, Incheon, South Korea. Company name was changed to March 11/1962 Saenara Motor.

In 1965, corporate industrial buying Saenara Shinjin Industrial Motor and renamed the company Shinjin Motor after establishing partnerships with Toyota. Shinjin has produced several vehicle models Toyota, As Pública, T40 Corona and Crown.

After Toyota withdrew from this partnership in 1972, Shinjin Motor start joint ventures with General Motors (GM) and took the name of GM Korea (General Motors Korea - GMK), but then returned as Saehan Motor in 1976.

After the Daewoo Group took control in 1982, they renamed the car into production Daewoo Motor Co. Saehan of all vehicles from the Daewoo brand name and is based on samples of GM vehicles.

In 1999, the Daewoo Group into the forestry situation in financial difficulties and was forced to sell automotive parts. The parties wish to buy including Hyundai, DaimlerChrysler, Ford, and GM-Fiat alliance. Finally, GM is winning corporate ownership of assets of Daewoo Motor.

2001, GM bought most of Daewoo Motor's assets to create GM Daewoo. The new company started its operations on October 17 2002, with GM and Suzuki with partner SAIC holds 66.7% share, with total investment capital of 400 million.

By 2008, GM owns 50.9% stake in GM Daewoo, Suzuki held 11.2%, Group Shanghai Automobile Industry (SAIC) in 9.9% and the Commission left home Daewoo Motor up 28% still again.

From January to October 2009 this GM held 70.1% ownership rate, Korea Development Bank (KDB) in 17%, 6.8% Suzuki and SAIC holding 6%.

Currently, GM Daewoo has five production centers in Korea and a car assembly plant in Vietnam Men. In addition, GM Daewoo also provide spare parts, automobile parts for GM facilities in China, Thailand, India, Colombia and Venezuela.

NHH - translated

Source: dantri.com.vn

By Chosun, Wikipedia