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1,895 views July 24, 2007

GM investing $6 billion in Daewoo

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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.