South Korean automotive manufacturer Daewoo, historically overshadowed by the success stories of Hyundai and Kia, is making a strategic move to reestablish its presence in the Indian automotive market.
While Daewoo may not be a household name when it comes to automobiles, it is poised to make a significant comeback in the rapidly expanding electric two-wheeler sector.
In recent years, several automotive giants have ventured into the world of electric bicycles, recognising the immense potential and growing demand in this market segment. Leading manufacturers such as Porsche, BMW, and Ducati have already showcased their electric bike innovations.
Daewoo is now joining this trend, with a particular focus on the promising Indian market.
The decision to set its sights on India is backed by the country’s robust economic growth and surging consumer demand for electric two-wheelers.
According to an article by Indian publication Business Standard, Daewoo is positioning itself to capitalise on the burgeoning e-bike industry. In addition to producing and selling electric bicycles, Daewoo is also looking to introduce electric scooters and small-capacity electric motorcycles to cater to the diverse preferences of Indian consumers.
India, recognised as one of the fastest adopters of e-mobility in the world, has witnessed a surge in homegrown brands, such as Ola Electric and Ultraviolette, making headlines on the international stage. This fertile market is where Daewoo aims to reestablish itself and regain a foothold in the automotive industry.
As Daewoo sets its sights on a comeback, specific details about its product lineup and launch dates are yet to be announced. Nevertheless, Daewoo is actively working on a partnership with Kelwon, an electronics and appliances specialist based in Delhi.
Through this collaboration, Daewoo aims to tap into the burgeoning automotive battery segment that caters to both two and four-wheelers. Their plan also encompasses the production of solar batteries, inverter batteries, and lubricants, demonstrating Daewoo’s commitment to a comprehensive approach to sustainable mobility in the Indian market.
(source: Business Standard)
