GM investing $6 billion in Daewoo

[Plex]

General Motors is planning to inject up to $6 billion in its Daewoo subsidiary over the next four years for both design work and engineering. According to GM Daewoo Chief Michael Grimaldi the South Korean outfit is a major export platform within the GM empire, and was also described as �strategically important� by the exec, according to the Associated Press.

Daewoo will be responsible for the engineering of a range of new small vehicles in the minicar segment, which will be exported to numerous developing countries. �We�re investing more resources in both design as well as our engineering organization. We�re looking forward to the introduction of our new mini and small cars that will come to markets around the world in the next several years,� Grimaldi explained.

Plans are underway to open a new proving ground and test center to join its 2,500 staff engineering center in South Korea. Grimaldi also commented that recent strikes at Daewoo�s plants were very brief and that new contracts have been signed.

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