The Korea-based Daewoo firm, which was formerly a well-known automaker in India with models like the small Matiz and Cielo sedan, has returned, but with a completely new look.
Due to insolvency at its headquarters, the company was forced to exit the auto industry more than 15 years ago. However, it is now back in business through a licensing arrangement, but this time for power and energy items, with consumer electronics and e-bikes to follow.
Daewoo and the Gurugram-based local vendor Kelwon Electronics and Appliances have forged a strategic alliance. The only company licensed to use the Daewoo brand name for new product lines in India is Kelwon, which is run by veteran electronics industry worker H S Bhatia, who had formerly been employed by LG and Airtel in India.
Chan Ryu, director of Daewoo India Operations said: “In the initial stage, we will introduce a range of power and energy products, which would include batteries for both four-wheelers and two wheelers, as well as inverter and solar batteries. Additionally, we will offer a variety of inverters and UPS systems, designed for both online and offline applications.”