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Mumbai: Daewoo, which manufactured Matiz and Cielo cars in India, is preparing for a re-entry into the country, this time focusing on a range of power, energy, and electronic products, including electric vehicles (EVs), Moneycontrol reported.
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.