South Korea’s Daewoo re-enters Indian market

South Korean company Daewoo on Wednesday announced its re-entry in the Indian market with a range of power and energy products, encompassing batteries for both four-wheelers and two-wheelers, as well as inverter and solar batteries and plans to bring in a range of e-bikes in the future.

Chan Ryu, Director, Daewoo India Operations said: "In our initial stage, we are introducing a range of power & energy products, encompassing batteries for both four-wheelers and two-wheelers, as well as inverter and solar batteries. Additionally, we will offer a variety of HUPS inverters and UPS systems designed for both online and offline applications, featuring wall-mounted options with integrated lithium batteries.

“Furthermore, we are set to launch high-capacity Voltage Stabilizers ranging from 0.5 KVA to 5 KVA to ensure optimal protection for your electrical devices."

Daewoo has formed a strategic partnership with Kelwon Electronics and Appliances Private Limited, based in Gurugram.

Kelwon, led by H.S. Bhatia, ex-LG and Airtel, has been chosen as the exclusive brand licensee for Daewoo in India.

Sharing the future roadmap, Ryu said: “Furthermore, in the upcoming year, as part of our Consumer Durables portfolio, we will introduce a wide range of products including air purifiers, LED televisions, audio speakers, water purifiers, smart fans, air coolers, home automation systems, and a comprehensive selection of small home and kitchen appliances. These products will offer innovative and diverse features while remaining budget friendly.

"Additionally, we have exciting plans to unveil a captivating line of e-bikes and e-cycles in the Indian market."

Daewoo had first entered the Indian car market with Cielo in 1995 followed by Nexia and Matiz.

In 2001, General Motors (GM) decided to buy the company’s assets in 2001, barring its India subsidiary, leading to its closure in 2003-04.

Daewoo was later bought by Posco.