GUNSAN -- Tata Daewoo Commercial Vehicle Company, a well-established name in commercial trucks often seen on construction sites and in logistics operations across the globe, has rebranded itself as Tata Daewoo Mobility.

Joining a broader industry trend, Tata Daewoo’s rebranding as a "mobility" company reflects its new mission to lead in eco-friendly transport through the development of electric and hybrid vehicles.

During the 30th anniversary ceremony held at its headquarters in Gunsan, North Jeolla Province on Wednesday, CEO Kim Bang-shin explained that the decision to keep the “Daewoo” name reflects the brand’s strong recognition and reputation in overseas markets like Eastern Europe, Southeast Asia, and Africa.

"The Daewoo name, especially its logo, is well-known and trusted in these regions," he said.

Tata Daewoo began in 1995 as the commercial vehicle division of Daewoo Motors. After struggling during the Asian financial crisis, the division was acquired by India’s Tata Group in 2004 in a landmark deal that marked Tata’s first international acquisition. Under Tata’s ownership, Tata Daewoo has retained its Korean identity and independence, operating with a focus on the Korean market while expanding globally. Today, Tata Daewoo is part of Tata’s diverse automotive portfolio, which also includes Tata Motors in India and Jaguar Land Rover in the UK.

Tata Daewoo’s trucks are popular in markets including South Korea, Eastern Europe, India, and parts of Southeast Asia and Africa. Known for their durability, these trucks support a range of industries: logistics and construction in South Korea, agriculture in Southeast Asia, mining in South Africa, and oil and construction in the Middle East.

Looking to the future, Tata Daewoo aims to grow its sales from 10,000 units this year to 14,000 by 2028, with a strong focus on electric and hybrid trucks. However, the company’s market strategy is shifting when it comes to EVs.

"Tata Daewoo’s traditional markets outside Korea aren’t yet equipped with the infrastructure to support electric trucks. Instead, we plan to target EV-ready markets like Taiwan and Canada, where we’ve already begun testing prototypes with logistics partners," said Chief Operating Officer Anil Sinha.

Tata Daewoo revealed its latest innovation: the Gixen, a mid-size electric truck set to launch in 2025. The Gixen is designed with a powerful European motor and a high-capacity lithium iron phosphate battery, offering competitive specs for an electric truck in this class. According to the company, the Gixen’s 300 kilowatt-hour battery provides a range of up to 480 kilometers on a single charge in internal tests -- enough to handle most medium-distance hauling needs.

Tata Daewoo plans to offer the Gixen with different battery options, including a smaller 150 kWh LFP battery and a 144 kWh nickel-cobalt-manganese battery, catering to different range and performance needs. The batteries will be supplied by LG Energy Solution for NCM and China’s BYD for LFP.

The first 20 units are scheduled for testing in early 2025, with mass production set to begin in 2026. While the Gixen’s price will likely be about twice that of a comparable diesel truck, Tata Daewoo expects government subsidies in key markets to help offset the cost.

CEO Kim highlighted that while the company takes pride in its past, it’s also looking ahead. “We’re committed to innovation in areas like autonomous driving, hydrogen trucks, and other future technologies. Tata Daewoo expects electric vehicles to make up around 15 percent of its total sales by 2030," he said.