Page 36 - Daewoo News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Posco Daewoo, the South Korean conglomerate whose Cielo sedan and Matiz hatchback were once the pride of Indian car owners, is looking to re-enter India. And its return journey is riding on plans to sell electric bikes and e-cycles. The company termed India's robust economic growth and surging consumer demand as reasons behind its comeback plans, saying they make India 'one of the world's most promising consumer markets,' according to Y S Choi, general manager, Posco Daewoo South Korea.

Daewoo India: The company is placing a strategic bet on the swift expansion of the Indian electric two-wheeler market in the years ahead. Daewoo originally entered the Indian market in 1995 with its four-wheeler models like the Cielo, followed by Nexia and Matiz. However, in 2001, General Motors (GM) acquired most of the company's assets, except its India subsidiary, which ultimately led to the cessation of its India operations in 2003-04.

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