Green Car Congress  
Go to GCC Discussions forum About GCC Contact  RSS Subscribe Twitter headlines

« Toyota Announces Development of Plug-In Hybrid; First Manufacturer to Have PHEV Certified for Public Road Use in Japan | Main | GM to Invest $6 Billion in Daewoo Automotive Technology »

Print this post

GM to Invest $6 Billion in Daewoo Automotive Technology

25 July 2007

AFP. GM plans to invest more than $6 billion in its Daewoo Automotive Technology (GM DAT) subsidiary in South Korea over the next four years, according to Michael Grimaldi, president and chief executive of GM DAT.

“Strategically it’s important for GM,” Grimaldi told a meeting of the Detroit Society of Automotive Analysts. GM has given DAT the task of engineering new small vehicles in the mini and subcompact class, Grimaldi said.

Last week, the GM Daewoo Matiz mini-car won the Energy Grand Prix award presented by Consumers Korea.

The Matiz epitomizes GM Daewoo’s engineering capability and accumulated technology in developing fuel-efficient, practical mini vehicles, which have been awarded by GM appointing GM Daewoo to be the global base for the development of its mini cars.

—Steve Clarke, GM Daewoo Vice President of Engineering

Since its launch in 1998, more than 2 million Matiz cars have been sold around the world.

July 25, 2007 in Brief | Permalink | Comments (3) | TrackBack (0)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef00e3932f3d678834

Listed below are links to weblogs that reference GM to Invest $6 Billion in Daewoo Automotive Technology:

Comments

Six billion dollars. For Daewoo. Why does that seem so wrong?

GM's market Cap is 19 Billion, they are investing half of what they are worth?

Sorry, A third of market cap not half.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Green Car Congress © 2014 BioAge Group, LLC. All Rights Reserved. | Home | BioAge Group