Tata Daewoo Drops 'Commercial Vehicle' from Company Name... Launching Compact Electric Truck Next Year

30th Anniversary Marks Name Change to Tata Daewoo Mobility
Mid-Next Year Launch of Compact Electric Truck Gissen

Tata Daewoo Commercial Vehicle has decided to change its company name to Tata Daewoo Mobility. This marks 30 years since it first started as Daewoo Commercial Vehicle in 1995, the only domestic manufacturer specializing in commercial vehicles. The company announced its goal to encompass comprehensive services related to mobility, including vehicle sales.

On the 6th, Kim Bang-shin, president of Tata Daewoo Mobility, said at the Gunsan headquarters, "Based on 30 years of tradition, we will present a new vision and message suitable for future mobility through rebranding," adding, "We will establish ourselves as a brand that provides customers with differentiated mobility experiences."

Kim Bang-shin, President of Tata Daewoo Mobility (left in the photo), Anil Sinha, Vice President, and Kim Jung-woo, CEO of Tata Daewoo Sales, are posing for a commemorative photo with the electric truck Gissen, which was first unveiled on the 6th at the Gunsan factory.
[Photo by Tata Daewoo Mobility]

Daewoo Group, which started its automobile business in the 1980s, restructured its business in the late 1980s and made the commercial vehicle business independent, assigning it to Daewoo Heavy Industries. In 1993, construction began on a dedicated factory in Gunsan, Jeonbuk, which started operations in 1995. The 'next-generation truck' introduced by Daewoo at the time attracted attention as the first large truck developed with domestic independent technology without royalties.

After the Asian financial crisis and the dissolution of Daewoo Group, the commercial vehicle business also entered a phase of reorganization. The commercial vehicle business was transferred from Daewoo Heavy Industries back to Daewoo Motors. According to the government's restructuring plan, the passenger car, bus, and commercial vehicle divisions were to be sold separately. In 2003, Tata Motors under the Indian Tata Group was selected as the preferred bidder. In March of the following year, the company was renamed Tata Daewoo Commercial Vehicle and made a fresh start. It is said that this was the first overseas acquisition by the Tata Group.

Tata Daewoo Mobility Gunsan Plant Production Line [Photo by Tata Daewoo Mobility]

As the first project under the new brand strategy, the company unveiled the mid-sized electric truck ‘Gissen’ to the press on the same day, scheduled for release in the first half of next year. In addition to passenger models, there are battery electric vehicle models for 1-ton electric trucks, which are small commercial vehicles, and buses. Among mid-sized and larger commercial vehicles, Gissen is the only electric truck. Hyundai Motor Company has also developed a mid-sized electric truck but exports all of them and does not release them domestically.

Gissen is an extension of the company’s existing truck lineup, the ‘Ssen’ series. The basic chassis is based on the internal combustion mid-sized truck ‘The Ssen.’ European motor systems are applied, and the battery will be offered in various options according to customer needs.

For large trucks, considering that customers use them for various purposes, the company plans to release models with different battery capacities. They will be launched mainly as long-distance and short-distance models, and within each model, customers can choose between lithium iron phosphate (LFP) and nickel cobalt manganese (NCM) battery cell types. Unlike passenger cars, which typically use NCM batteries for long-distance models, LFP batteries are used to extend driving range. This is to maintain price competitiveness since the battery capacity is about three to four times larger than that of passenger cars.

Kim Bang-shin, President of Tata Daewoo Mobility (center), is answering questions from the press on the 6th.
[Photo by Tata Daewoo Mobility]

The battery capacity is up to 300 kWh, and internal tests show that a single charge can achieve a driving range of 480 km. The maximum output is 250 kW (335 horsepower), and torque is 862 Nm (88 kgf·m), which the company claims is superior compared to overseas competitors’ models. Additionally, the company plans to release a hydrogen internal combustion engine truck equipped with an engine that directly combusts hydrogen within next year. The engine is developed by HD Hyundai Infracore.

The key issue is government subsidies. Kim explained that while mid-sized internal combustion trucks are sold for around 65 million KRW, electric trucks of a similar class are expected to be about twice as expensive. To sell in the market, subsidies are necessary to bridge this price gap, but currently, subsidies are only provided for small commercial vehicles and hydrogen fuel cell trucks. Kim emphasized, "Although there are no subsidy guidelines or regulations at present, I believe the government will prepare them in time for the launch next year," adding, "Since commercial vehicles have long driving ranges, subsidies are needed for various commercial vehicles to reduce carbon emissions."

The compact electric truck 'Gissen' first unveiled by Tata Daewoo Mobility. The name combines 'Gi' from electric and 'Ssen' from the truck lineup.
[Photo by Tata Daewoo Mobility]

This year, the company set a target of selling 10,000 units combined domestically and internationally. Last year, the company sold 9,501 units and achieved sales of 1.01 trillion KRW. It also announced a goal to increase domestic and overseas sales to 14,000 units by 2028. The electric vehicle share is expected to be about 10%.

Kim said, "Unlike other foreign companies, Tata Group has never resold a company once acquired," adding, "We collaborated in various ways with Tata Motors in India during the electric vehicle development process." He also added, "Although exports to Russia have decreased due to international sanctions, some countries recently approved the knock-down (KD) business, so we expect to increase exports of those units."