GM-Daewoo to Have Global Design and Development Role

GM-Daewoo to Have Global Design and Development Role
GM Daewoo Auto & Technology will be a centre of design and engineering development for General Motors' global network, the top GM executive reportedly said on Friday.

According to the Korea Times, in a new conference in Seoul, GM chairman and CEO Rick Wagoner said GM Daewoo is already playing several functions for GM and will further act as not only GM's leading sponsor for China and the Asia Pacific region, but also for GM's global operations.

"GM Daewoo's engineering, research and development and design centres are key components of the GM global product development organisation and a valuable resource for the development of new products," Wagoner reportedly said. "We are going to use resources here extensively."

GM Daewoo president Nick Reilly told the Korea Times it demonstrates his company's value in the GM network that GM Daewoo hired 200 new engineers since the beginning of the company.

Wagoner reportedly added that its design staff will also be expanded.

The paper noted that, in March, GM announced that it would be investing 1.74 trillion won in GM Daewoo with plans to use it as a global strategic engineering hub.

According to the investment plan, the automaker will hire 1,000 workers in accordance with the construction of two new production facilities, expansion of existing plants, introduction of thr