CHENNAI — Daewoo Motor India Ltd. is spinning off its loss-making engine and transmission plant into a separate company that later could be converted into a joint venture with a strategic partner or sold off. A Daewoo official says the facility currently is working at a mere 7% of its 150,000-unit capacity. The plant was established to supply engines and transmissions to its parent company in Korea, which last year was declared insolvent. Daewoo placed third in sales here last year, at ...

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