A joint venture led by General Motors Corp to revive key assets of South Korea’s Daewoo Motor Co will break even in 2005, focusing on exports, the Korea Economic daily said on Wednesday citing confidential GM documents, according to Reuters.
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Citing the newspaper, Reuters said that GM Daewoo Auto & Technology Co, set for launch next month, projects 2003 sales at 5.98 trillion won, up 30.5% from 2001.
GM Daewoo targets more than 30% annual growth until 2004, bumping up production to over 500,000 vehicles annually by 2005, the newspaper said, according to Reuters.
