General Motors, the world’s largest automaker, announced Monday that its unit in Vietnam, Vietnam Daewoo Motor Co, or VIDAMCO, has been renamed GM Vietnam and will stop manufacturing cars under the Daewoo name.
GM Vietnam said it would focus on making Chevrolets.
“The changes represent a new beginning for GM in Vietnam in line with our new corporate strategy,” the company’s managing director, Gaurav Gupta, said in a statement.
“We look forward to leveraging GM’s unmatched global resources to introduce high-quality new products and services.”
GM Vietnam plans to launch three new Chevrolet models this year and upgrade its dealer network, showrooms, and service centers to meet Chevrolet standards.
But owners of Daewoo vehicles would continue to receive full warranty coverage as well as after-sales service and spare parts replacement, the company said.
Chevrolet sales in Vietnam rose 40 percent year-on-year in the first eight months of this year, enabling GM to maintain its position as the country’s second largest automaker.
VIDAMCO was established by the former Daewoo Motor Co in 1993. Daewoo became part of GM in 2002 and currently has nearly 600 employees.
Its manufacturing facility in Hanoi, which began operation in 1995, assembles cars for sale in Vietnam and exports.
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