Rus News Journal

Daewoo plans on release of cars

the Korean firm hopes to get to first ten

According to Financial Times, Daewoo concern has accepted the investment program recognised as the international experts to one of the most ambitious projects in the world autoindustry lately. Its performance should deduce the company in ten the largest world motor-car manufacturers. Realisation of the investment program in volume of $5 mlrd, calculated for five years, will increase capacities of Daewoo in South Korea and a number of other countries to 2 million cars a year.

As has declared the president of Daewoo Vu Chen Kim (Woo - Choong Kim), concern plans to increase in 2000 volumes of output of cars four times (this year it will be let out 500 thousand cars). Performance calculated on 1995 - 1999 of the investment program will allow to increase considerably capacities of concern, having finished release of cars to 2 million pieces a year. From them 1 million will be made at corporation factories in South Korea, and the others - in Romania, India, China and Uzbekistan.
by words g - on Kima, in October of Daewoo has bought 51 % of actions of Romanian company Automobile Craiova. From the end of 1996 here it is planned to make about 100 thousand cars of Daewoo a year. In Romania the new model, on a class similar to Ford Fiesta will be made. Manufacture of this car is planned not only in Korea and Romania, but also in India and China. The volume of investments into this project is estimated in $500 million
In 1995 within the limits of joint venture manufacture of cars of Daewoo in Uzbekistan (wrote about it in June) will begin. Here it is planned to make automobile midget cars Cielo and Tico and utility trucks for the central Asia and Russia.
in India of Daewoo has got 51 % of shares of company on manufacture of trucks DCM of Toyota. By the end of decade it is manufacture it is planned to reorientate to cars with volume of release of 200 thousand pieces a year. In this project it will be enclosed $500 million In the nearest years Daewoo plans to make in India model Cielo.
Besides, by words g - on Kima, last year Daewoo has received the consent of the Chinese government to realisation of the joint project with First Automotive Works on manufacture of cars which is planned to begin in 1997. The volume of investments into this project will make $2 billion
By words g - on Kima, trading quotas do not allow Daewoo to sell in the Western Europe more than 100 thousand cars a year. In this connection the corporation is guided by quickly growing markets of Asia, the Eastern Europe and Latin America.