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Innovation promise by Daewoo despite doubts

The decision by Ford to pull out of buyout negotiations for Daewoo failed to dampen the Korean manufacturer's determination to highlight future projects that will combine innovation and value for money.

Joon Lee, Daewoo's executive director of sales and marketing in western Europe, said at the Paris motor show that Ford's withdrawal had led the company into further discussions with its creditors and that emphasis was now on selecting a new buyer “as quickly as possible”.

“In the meantime our mission is to remain in charge,” Mr Lee said. “And to always put the customer first, working to improve our service.”

Bong-Sup Shim, vice-president of Daewoo motor research and development, introduced the new Matiz minicar, the first showing of the Tacuma mini MPV and Kalos concept car. “Whoever our owner will be we will maintain our own individual brand and our research and development and will continue to invest in new model development,” Mr Shim said.

Ford pulled out of negotiations for a £3.9bn takeover of Daewoo earlier this month.

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