Korea’s popular brand Daewoo group is back in India. Daewoo was a popular auto brand in India. Cielo Sedan and Mini Matiz were two popular models of Daewoo. The company went bankrupt in 1999, so it had to quit the automotive industry. Due to a lack of production and marketing strategy, Daewoo had to put a full stop on its production process in India. Daewoo has returned with a license for producing power and energy products, including batteries for two- and four-wheelers.
Daewoo Group will soon launch its new electric bikes and motorcycles in the country. Almost a decade ago, the company offered amazing cars that provided a comfortable driving experience and were very famous in India.
Although the name Daewoo may sound familiar, Daewoo Group is not related to Posco Daewoo. Daewoo Group is a South Korean carmaker, and it gave India amazing cars, including the Matiz hatchback and the Cielo luxury sedan.
The Korean brand has teamed up with Indian Kelwon Electronics and Appliances. H. S. Bhatia, a popular name in the electronic industry, manages Kelwon Electronics and Appliances. In India, H. S. Bhatia had also worked for companies like Airtel and LG. Kelwon will use the Daewoo brand name for its new products. Kelwon is planning to invest around INR 300 crore in the upcoming three years to relaunch Daewoo products.
There were various reasons why Daewoo Group had to stop the production of Daewoo cars in India, such as a lack of good promotions for their brand, the high prices of the automobiles, and the brand's huge losses in the market. But after almost a decade, the company has returned to India with a new marketing strategy.
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The Director of Daewoo India Operations, Mr. Chan Ryu, stated that, "Initially, the company will introduce a range of energy and power products, including solar and inverter batteries, as well as batteries for two- and four-wheelers. Daewoo will also provide a variety of UPS systems and inverters, designed for both offline and online applications.”
