Have money, need growth: GM to invest $6b in Daewoo

GM has been rapidly expanding in countries outside the US, and South Korea-based Daewoo has been a major contributor to the company's growth in developing markets. GM is redoubling their commitment to Daewoo by investing $6 billion in the once bankrupt automaker over the next few years. President and chief executive of GM DAT Michael Grimaldi says the money will be used to expand design, engineering, and for new plants and products. Among the projects on the table are a mini car and a small car, which could mean that some form of the Beat, Trax, or Groove could be in the pipeline. With relatively low labor costs and a free trade agreement with the US, GM Daewoo could expand their role of providing low-cost economy cars to our shores, but with a Chevy badge.

[Source: Channel NewsAsia]