July 12, 2001: Times change, and sometimes they change fast. Only five years ago, GM was on the verge of acquiring an Asian carmaker: Daewoo. Fast forward to today, now GM is looking for salvation in the arms of an Asian carmaker: Nissan. Of course, the Daewoo deal didn't break the bank for GM because the eventual deal came in at $400 million. As a matter of fact, it could be argued that the Daewoo acquisition is helping to keep the troubled giant out of bankruptcy. Daewoo's cars remain competitive in Korea and in the ever important Chinese market. In addition, Daewoo has helped bolster GM's American line up in the form of the Chevy Aveo, a small car that has become wildly popular thanks to the high price of gas. Unfortunately for GM, Daewoo maybe the only Asian venture that was a success as its partnerships with Isuzu, Subaru and Suzuki have all been flops — and in some instances outright monetary blackholes — bringing up the question, would a Nissan partnership be another success or another abyss? —Matthew Wurtzel
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