Daewoo is set to foray in consumer electronics space in India and will offer power and energy storage solutions. The South Korean manufacturer intends to eventually expand its offerings to electrical products including kitchen and home appliances, as well as e-bikes.

Daewoo will licence its technologies to local partner Kelwon Electronics and Appliances, which will invest around Rs 300 crore over three years. It will work on rebuilding the brand in India, initiating R&D activities and stocking products.

Kelwon will initially focus on fulfilling aftermarket demand for existing internal combustion engine vehicles (IC-engine) with lead acid batteries before transitioning to electric vehicles (EVs). The firm will manufacture lead acid batteries, uninterruptible power supply systems and voltage stabilizers.

The expansion plan will extend to consumer durables, such as LED televisions, air purifier and speaker systems, besides offering e-bikes and electric cycles. Daewoo's comeback after it shut down its automotive business in India, is expected to leverage the opportunity to establish large business in India with a positive recall. The company has presence in over a 100 countries across Europe, South America, the Middle East and Asia.