Speaking on the formal launch of the 796cc Matiz here on Thursday, Tae Gou Kim, chairman automotive business, Daewoo Corporation said, ``We are together working on a lot of joint efforts for the global market and India figures in the list of countries in which these joint efforts would be made in the automobile industry. Discussions are on between the two companies,'' Kim said.

The Matiz is available in one fully-loaded version with an ex-showroom price of Rs 3.55 in Delhi. India, he said, is one of the strategic investment destinations for Daewoo, with the parent having already invested over $1 billion in the automotive business alone. Besides India, Poland and Uzbekistan are the two other strategic bases for the group.

In a separate development, the order acceptance for the first 3,000 Matiz started on Thursday anddeliveries would commence from November 23.

The managing director of Daewoo Motor India, SG Awasthi, ruled out any price cut on the Matiz as its sourcing strategy is completely different from the Cielo. The company is requisitioning the services for an external agency for handling orders.