Intro: Daewoo Automobile Romania was established on the ruins of the Oltcit factory in 1994. Production started in 1996 with the Cielo (Nexia on some markets) and the Espero. Later the Tico, Leganza and Nubira joined the line, then the Matiz and finally the Nubira II.
Meanwhile, in 1997 the company commissioned a state-of-the-art engine and transmission factory. Overall the company manufactured in excess of 100,000 cars, some 125,000 engines and nearly 130,000 transmissions up to 2001.
Besides some 5,000 employees, another roughly 15,000 jobs throughout Romania depend on Daewoo. Recently the company has been suffering the effects of Daewoo's collapse. In September, 2003 GM-Daewoo entered the local market with cars badged as Chevrolet. The Craiova plant which faces massive debts is not allowed to export their goods any more.
In 2006 the Romanian government bought back control of the plant which will be sold in 2007. Tata, Chery, Ford, GM are among the potential bidders |
