GM Daewoo has four shareholders: GM, Korea Development Bank, Suzuki Motor Corporation, and Shanghai Automotive Industry Corporation. When GM Daewoo put out a rights issue, only one of the four took the bite: GM, which made it rain to the tune of $412 million and raised its stake from 50.9% to 70.1%.
In what looks like a serious-but-probably-the-norm case of industrial espionage, General Motors' South Korean Daewoo division is reportedly alleging that the Russian automaker TagAZ has tried to copy its Lacetti sedan. Backing up those allegations are the arrests of two TagAZ engineers – former Daewoo employees who are said to have taken computer files from one company to the other. A third former Daewoo employee, an executive, left notes proclaiming his innocence and then committed suicid
We still don't know for sure what GM's production plans are for the Chevy Cruze here in the U.S. The company hasn't made an official statement on the subject since announcing that it would be built in Lordstown, OH in early 2010. Recent stories have indicated that U.S.-production of the Cruze might be delayed by up to a year in an effort to conserve cash. While we will still have to wait at least another 18 months and maybe longer to get the Cruze, car buyers in South Korea can now buy it badged
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