Daewoo Motor plans to build 2.5 million vehicles annually by 2000, including more than one million abroad.
Production in South Korea has risen from 375,299 units in 1993 to 632,544 last year. That includes the Tico minicar and a small commercial vehicle built by Daewoo Heavy Industries, a sister company. Passenger-car production has risen from 314,448 units in 1993 to 620,793 last year.
Including overseas operations, Daewoo said it built and sold more than one million vehicles in 1996. Daewoo has capacity to build 500,000 cars annually in Pupyong, South Korea (Lanos and Leganza), 300,000 in Kunsan (Nubira) and 240,000 at Daewoo Heavy Industries' plant in Changwon (Tico/M-100).
Outside South Korea, Daewoo has capacity for 575,000 units a year and plans to increase that to 1,260,000 by 2000. New plants in Russia and China are under discussion. A plant in South America is being considered after 2000.
Daewoo Motor employs 25,100 people. Sales in 1996 were $10.1 billion, up from $7 billion in 1995 and $3.5 billion in 1994. By 2000, the company targets worldwide revenue of $40 billion.
Daewoo Motor is a fully owned subsidiary of Daewoo Group. The group's sales in 1996 were $68.1 billion.