Daewoo, a brand famous for selling cars like Matiz and Cielo in India, is gearing up for a grand comeback in the country with a range of power and energy products. However, unlike before, the South Korean brand will focus on the energy, power, electronics and electric vehicle (EV) sectors in its second innings in India.
To further its objective, Daewoo has formed a strategic partnership with Kelwan Electronics & Appliances Pvt Ltd based in Gurugram.
Initially, Kelwon will sell Daewoo-brand power and energy products for electric vehicles and two-wheelers. It plans to capitalize on the expanding market for electric vehicles in the two-wheeler segment such as electric bikes, electric scooters and e-cycles.
Chan Ryu, Director, Kelone Electronics, heading Daewoo India Operations, emphasized India’s emergence as a global manufacturing hub and Daewoo’s intention to capitalize on this opportunity by collaborating with an Indian partner in manufacturing, marketing and selling Daewoo products in India.
“We have exciting plans to launch an exciting line of e-bikes and e-cycles in the Indian market. The market is still at an early stage, and we aim to capture a significant market share in the next three years. I expect 10 units sold in the country.” At least one of the e-bikes will be from Daewoo.”
