The model is to be launched in Europe at the beginning of 2010. It will be assembled at the automaker’s plants in India, Vietnam, Columbia and Uzbekistan.

The company has taken 27 months and KRW295 for research and development of the vehicle.

The car can accommodate five adults and is powered by a new 1,000-cc DOHC engine which has earned Korea’s Ultra-Low Emission Vehicle rating. Average fuel economy is put at 6 litres per 100 kilometres.

The company hopes the car will fit an urban lifestyle.

GM Daewoo Auto and Technology (GMDAT) is South Korea’s third-largest carmaker and was formed in 2002 when GM took over the bankrupt Daewoo Motor Co.