After the global transaction between GM, its alliance partners and the creditors of Daewoo Motor Company in Korea was closed and also GM Daewoo Europe started operations, a regional GM Daewoo company for Central and Eastern Europe has been established in Budapest, Hungary.

The formation of the new company was publicly announced by Chris Lacey, Executive Director of General Motors Europe responsible for North, Central and Eastern Europe. The new Budapest based GM Daewoo Central and Eastern Europe Automotive Llc. will be responsible for import and sales of all Daewoo vehicles built by the new GM Daewoo company. The Budapest based regional operation starts commercial activities as of November, first in Hungary followed by other countries of the region early next year. In Central and Eastern Europe there are approximately 800.000 vehicles running with Daewoo badging.

During the corporate media event in Budapest, it was also announced that General Motors Europe opened its Central and East-European Regional Office in Hungary. The new Regional Office manages the GM business in 15 countries of the region by directly running some markets and coordinating the activities of others