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 there while "on the run". Daewoo Motor Co., Ltd. was founded when the Daewoo Group purchased Saehan Motor in 1978, but the Daewoo Motor name did not appear until 1983. The Daewoo Motor brand appeared in the UK in 1995. At the time, it was the only manufacturer not using traditional dealerships – it owned and operated its own retail network. It was once considered to be among the top 10 motor companies in terms of production. Due to financial trouble, Daewoo's automotive arm, Daewoo Motor, was sold to General Motors (Korean) in 2001. The Daewoo nameplate continued in South