GM Daewoo Completes Engine Factory in Korea for GM's Small-Car Lineup

GM Daewoo Auto & Technology, the Korean unit of struggling U.S. automaker General Motors Corp., said Friday (Nov. 30) it has completed an engine factory in South Korea to help GM grow its small-car lineup. The new factory in GM Daewoo¡¯s plant in Changwon, 398 kilometers south of Seoul, has an annual capacity of producing 200,000 1-liter, 1.2-liter engines and five-speed manual transmissions, the company said in a statement. GM Daewoo spent 132 billion won ($143 million) on the factory, according to the statement. A new small car, being developed by GM, will use the 1-liter engine made by the GM Daewoo factory, it said.