In the mid-1970s, it participated in Saehan Motor , a joint venture between Shinjin Motors and General Motors . In 1983 the Daewoo Group took over the majority of the shares and changed the name to Daewoo Motor .
In 2002 Daewoo got into financial difficulties due to the Asian crisis . The automotive division was split up and spun off into individual companies . The car division was taken over by a consortium led by General Motors and was named GM Daewoo Auto and Technology . GM's 42.1% stake was held by its Australian subsidiary GM Holden , Suzuki , in which GM was still involved at the time, took over 6.8% of the shares, and Shanghai Automotive Industry Corporation (SAIC) took 6.0%. In July 2005 General Motors became the majority shareholder with just over 50%. The stake has been continuously increased, most recently by a capital increase on October 28, 2009.
The commercial vehicle division was as Daewoo Commercial Vehicle spun off and later by Tata Motors acquired. The bus division was spun off as Zyle Daewoo Commercial Vehicle , since 2003 it has been a subsidiary of the Korean Young An Hat Company .
Daewoo in Europe
In 1994 a joint venture with Automobile Craiova started under the name Daewoo Automobile . In September 2006, the Romanian government acquired Daewoo's shares for USD 60 million. In 1996, the Daewoo Motor Polska joint venture was founded with FSO .
The brand name was changed from Daewoo to Chevrolet in February 2005.
- Andrew E. Green: South Korea's Automobile Industry . Development and Prospects. In: Asian Survey . tape 32 , no. 5 . University of California Press, Bognor Regis, S. 411-428 , doi : 10.2307 / 2644974 , JSTOR : 2644974 (English, Green incorrectly gives the year 1972).
- Daewoo-Chevrolet: Everything new, everything as always . In: Spiegel Online , December 1, 2004. Retrieved September 15, 2013.