South Korean firm Daewoo to reenter India to make power, energy, and electronic products, EVs
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.
Unlike its previous venture, the South Korean brand will concentrate on sectors related to energy, power, electronics, and EVs in its second innings in India, the report said.
To advance this goal, Daewoo has established a strategic partnership with Gurugram-based Kelwon Electronics and Appliances Pvt Ltd, it said.
Initially, Kelwon will market power and energy products under the Daewoo brand for electric cars and two-wheelers.
The company also intends to tap into the expanding market for electric two-wheelers, including electric bikes, scooters, and e-cycles.
According to the report, Chan Ryu, Director at Kelwon Electronics, will lead Daewoo's operations in India, highlighting India's emergence as a global manufacturing hub and Daewoo's commitment to leveraging this opportunity through collaboration with an Indian partner for manufacturing, marketing, and sales of Daewoo products in the country.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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