Daewoo stores market Daewoo Electronics products under their "Trutech" brand on an ODM basis. In 2004, General Motors pulled the Daewoo brand of vehicles out of Australia and New Zealand, citing irreparable brand damage. Later that same year, GM announced that Daewoo Motors in Europe would change its name to Chevrolet on 1 January 2005. In 2005, it was announced that Daewoo cars would have a Holden badge in Australia and New Zealand. In South Africa, Thailand, and the Middle East, Daewoo models were already branded Chevrolet. In South Korea, Daewoo was renamed GM Korea. As part of the company reorganization,
Daewoo Motors parts for export, such as engines and gearboxes to GM Daewoo and to other companies. The factory was acquired by the Romanian government and sold to Ford in 2007 (the official agreement was signed on 21 March 2008). The production of Daewoo models was stopped in May 2008, and Daewoo Automobile Romania became Ford Romania. Daewoo also invested into Poland's Fabryka Samochodów Osobowych (FSO) in 1995, forming a joint venture called Daewoo-FSO, for the assembly of the Matiz city car, a successor of the Tico, that was very popular in the Eastern European market. Since January 2005, FSO began to