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 was launched, the first Daewoo model to be produced in their then new Kunsan motor plant. It was designed by the Italian-based I.DE.A Institute. In March 1997, the mid-sized Leganza followed, also designed by Giorgetto Giugiaro, borrowing some styling cues from the existing 1990 Jaguar Kensington concept car. In 1998 one of Daewoo's best known cars was introduced, the Matiz. The design was again signed by Giorgetto Giugiaro and based on his 1992 "Lucciola" concept car, which was initially imagined as a replacement for the Fiat Cinquecento. This car became Daewoo Motor's best-seller for the next four years. In 1999,