Subscribe to our Telegram channel for instant updates!
The success stories in South Korea’s automotive industry are often associated with giants like Hyundai and Kia, leaving Daewoo overshadowed. Despite this, Daewoo is still operational and aims to re-enter the market, this time focusing on two-wheelers.
Many automakers, including Porsche, BMW, and Ducati, have recognized the potential of electric bikes, and Daewoo is no exception. The company is eyeing the lucrative market in India. One of the main reasons is the country’s strong economic growth and consumer demand. Daewoo plans to introduce e-bikes, electric scooters, and small-capacity electric motorcycles in India. India stands out globally as a fast adopter of e-mobility, with local brands like Ola Electric and Ultraviolette gaining international attention.
Daewoo has a history in India, having introduced models like Cielo and Matiz in the mass market segment in 1995. However, the company faced challenges, leading to its closure in 2004 after General Motors acquired its assets. In the United States, Daewoo’s venture from 1997 to 2002 also met a similar fate due to internal conflicts and the Asian financial crisis.
While Daewoo’s concrete plans for the Indian market still underway, the company is in collaboration with Kelwon, a Delhi-based electronics and appliances specialist. Together, they aim to tap into the growing automotive battery market, catering to both two and four-wheelers. Their strategy also encompasses solar batteries, inverter batteries, and lubricants.