GM Daewoo to sell revamped Chevrolet Spark in S. Korea

SEOUL, July 27 (Yonhap) -- GM Daewoo Auto & Technology Co., the South Korean unit
of General Motors Corp., said Monday it will begin selling the revamped Chevrolet
Spark mini car here from September.
GM Daewoo started mass production of the redesigned model, equipped with a
1-liter engine, at its plant in the city of Changwon, 398km southeast of Seoul,
the company said in a statement.
GM sells the Spark as the Matiz in South Korea and some Asian nations.
An official at GM Daewoo said a date for the launch of the revamped model in the
United States hasn't been set.
GM emerged from bankruptcy protection early this month after the U.S. government
took control of a majority stake in the world's second-largest carmaker.
Cash-strapped GM Daewoo has been in talks with the state-run Korea Development
Bank over the carmaker's request for one trillion won (US$800.6 million) in
emergency loans.
The talks have reportedly faltered on GM's refusal to offer as collateral part of
its GM Daewoo stake as requested by the South Korean bank.
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