GM and Daewoo cooperated in the 199s, but later, due to Daewoo's desire to get rid of GM's shackles, Daewoo Group disintegrated in the Asian financial crisis in 1997, and daewoo motor was on the verge of bankruptcy. GM bought daewoo motor because of its lack of small car capacity, which is Daewoo's strength. Later, many models were introduced from Daewoo to Shanghai GM, including Excelle, Jing Cheng, Lefeng, Le Cheng and Le Chi. At present, GM is about to go bankrupt, and its alliance with Daewoo will also break down.