New Delhi, Nov 14: South Korean auto major Daewoo Motors' proposed strategic alliance with the US-based General Motors (GM) would be extended to the chaebol's operations in India, a top company official said on Saturday."We are continuing negotiations with GM to form an alliance. Once it materialises, Daewoo would source components from GM for our Indian subsidiary," Daewoo Corporation chairman (automotive business) TG Kim said here.
Daewoo and GM have been holding talks to form a strategic alliance wherein the US auto giant would have equity stake in the Korean auto ma-jor. "We have not arrived at any decision in this regard till now. But, certainly we have not excluded India from extending this tieup once it is formed," Kim said.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
Printer-friendly page
