GM Colmotores
 |
|
| Private | |
| Industry | Automotive |
| Founded | July 27, 1956 |
| Headquarters | Bogotá, Colombia |
| Products | Automobiles |
| Parent | GM |
| Website | GM Colmotores |
GM Colmotores is a car company based in Bogotá, Colombia. Established in 1957 as Fabrica Colombiana de Automotores S.A. (Colmotores), they began manufacturing, under license, British Austins. In 1965, Chrysler Corporation took a 60% stake in the company, which manufactured Chrysler cars under license until 1979. In 1979, General Motors took control of the company, purchasing a 77.4% stake.
In 1981, the company was renamed GM Colmotores. Since then it has manufactured, under license, a variety of General Motors, GM Daewoo, Isuzu, Qingling Motors, and Suzuki vehicles for the local market, all sold under the Chevrolet name. The company has production facilities in Colombia, Ecuador, and Venezuela, and imports models from Korea built by GM Korea.
As often happens with large projects, the creation of GM Colmotores emerged from the vision of a handful of Colombian businessmen, led by German Montoya Velez. After many conversations, financial calculations and had to overcome obstacles that men whose common goal was, before the trade to create company in Colombia, were crystallized his desire: the July 27th, 1956 was founded the Fabrica Colombiana de Automotores S.A. (Colmotores), whose articles of incorporation are logged a month later, on 25 August of that year, with an initial capital of five million pesos, contributed several regions, particularly Antioquia, Cundinamarca, Caldas and the Coast.
The initiative of Mr. German Montoya could not be more plausible: that same year, 1956, the National Government was preparing to meet the objective of import substitution and expanding the domestic market. Also had to issue a decree exempting from income taxes, property, import and procurement of raw material for ten years, the industries that consume material produced in Paz del Rio steel mill. They were all favorable conditions which brought together a group of shareholders on this thought.
...
Wikipedia