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Daewoo

Daewoo

Daewoo company was founded in 1967 and began with the production of textile machinery. In 10-12 years it became a major heavy engineering company. The motor vehicle department Daewoo Motor was formed in 1965, based on the company Shinjin Motor, with which in June 7, 1972 U.S. General Motors has created a joint venture. In August 1978, Daewoo acquired 50% of its shares, but only from January 1983 it began assembling cars there, copies of German Opel. A little later, producing of trucks under license from the Japanese company Isuzu was also started. Since 1982 the Daewoo company became a part of the Daewoo Corporation, which, in October 1992, purchased from General Motors Corporation the remaining stakes of the Shinjin Motor Co. New factories were opened: in 1991 - Plant of small cars in Changwon and in November 1995 - a large complex in Kunsan capacity of 20 thousand vehicles per year.

 In December 1997, Daewoo acquired SsangYong Company, and at the end of 1998 Samsung Group gave its production of trucks to Daewooo. After suffering huge losses in 1999 Daewoo fell into crisis and November 5, 2000 was officially declared bankrupt. Between the big monopolies fight was started to buy Daewoo. Thus, in 2004, it was acquired by the TATA Motors, and Daewoo Motor Company was renamed to TATA Daewoo Commercial Vehicle Co.

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Array ( [1] => Commercial vehicles [5] => Concept vehicles [3] => Military vehicles [4] => Special vehicles )

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