General Motors has taken heat for its unsatisfying five-year alliance with Fiat and its failure to find synergies with Fuji Heavy Industries. But GM is doing a first-rate job of managing its Daewoo subsidiary in Korea.
GM took over Daewoo after Ford Motor Co. passed. Masterfully, GM acquired only the assets it wanted and took on none of the debt. Daewoo was bankrupt, but it also was a peppery little company that developed some fine cars.
Today, Daewoo supplies GM with much-needed fuel-efficient models. And its engineering team will develop the platform for the Chevrolet Aveo and other GM small cars worldwide. Credit GM Daewoo President Nick Reilly. He's unlocking the value at Daewoo.