Daewoo coming back to India! Cielo, Matiz maker planning electric vehicles and more

Before South Korean carmakers such as Hyundai and Kia dominated the Indian car market, there was another automobile manufacturer that reigned strong in the hearts of Indian car buyers (although briefly), called Daewoo. The carmaker gave India considerable hits such as the Cielo luxury sedan and the Matiz hatchback, which used to be Hyundai Santro’s top competitor during the early 2000s.However, dwindling sales and subsequent bankruptcy led to the company’s exit from the country in 2002. Over two decades later,Daewoo has now announced that it will be returning to India.

While Daewoo has confirmed its return to India, for its latest inning, it is coming back as more of a technology company and not as an automaker. It will license several technologies such as solar panels, home inverters and home UPS systems to the Indian brand Kelwon. On the mobility-related front, Daewoo will supply electric batteries for use in small-capacity EVs such as E-bikes that are being developed by the homegrown brand.

Two E-bike platforms were showcased at Daewoo’s announcement, these included the DWECXI and the DWECXII. Both EVs are small-capacity electric bicycles that will enter the Indian market soon, alongside the smaller form factor, full-sized electric bicycles will also be on offer once Kelwon enters the market. While the re-entry of Daewoo into India may not sound as exciting, it certainly sparks a ray of hope. Currently, the company has announced no plans related to bigger EVs and if it will consider entering the mainstream automotive market of India again.