GM Daewoo to Join GM’s Hydrogen Fuel Cell Project
16 November 2005
Yonhap. GM Daewoo Auto & Technology Co., the third-largest automaker in South Korea and now a subsidiary of GM (earlier post), plans to participate in the hydrogen fuel cell project being pushed by its parent.
GM Daewoo will conduct a feasibility study on whether it can apply GM’s hydrogen fuel cell technology to its vehicles, according to the company’s president.
The company’s goal is to be a leader in South Korea in the development of environmentally friendly cars through the cooperation with GM, he added.
GM Daewoo plans to put its own hydrogen fuel cell vehicle on the market in coordination with GM’s target goal of 2010.
GM Daewoo has become an important Asian production site for the Chevrolet brand. In October, 112,631 of the Incheon-based automaker’s vehicles sold globally, setting a monthly sales record for the automaker for the second consecutive month.
Total sales in the first 10 months of 2005 grew 27.3% on a year-on-year basis to 911,811 units from last year’s 716,222 units. The sales increase was attributed primarily to a large increase in exports of complete vehicles and knockdown (KD) kits.
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