So Shi-Tei
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==History== | ==History== | ||
So Shi-Tei Motors was founded in 1954 by Won Tai Lee and Yi Son Guy . The company began as a bicycle repair shop in Downtown Korea. In 1970, the business was moved to a bigger location and began servicing motorized scooters and bicycles. In 1974 the company began manufacturing and selling their own bicycles. | So Shi-Tei Motors was founded in 1954 by Won Tai Lee and Yi Son Guy . The company began as a bicycle repair shop in Downtown Korea. In 1970, the business was moved to a bigger location and began servicing motorized scooters and bicycles. In 1974 the company began manufacturing and selling their own bicycles. | ||
| + | ==Decline== | ||
| + | By 1976, the company was facing serious financial trouble. The second generation bicycles were not reliable and were selling poorly. By late 1976, the company had a stock of over 10,000 unsold bicycles. By late 1977, brankrupcy was almost the only option. | ||
| + | ==Reserection== | ||
[[Category: transportation]] | [[Category: transportation]] | ||
Revision as of 00:54, 10 August 2008
So Shi-Tei Motors is a Korean manufacturer of budget cars. So Shi-Tei Motors was founded in 1954. Their main competitor is Kra-Pi Motors from Japan.
History
So Shi-Tei Motors was founded in 1954 by Won Tai Lee and Yi Son Guy . The company began as a bicycle repair shop in Downtown Korea. In 1970, the business was moved to a bigger location and began servicing motorized scooters and bicycles. In 1974 the company began manufacturing and selling their own bicycles.
Decline
By 1976, the company was facing serious financial trouble. The second generation bicycles were not reliable and were selling poorly. By late 1976, the company had a stock of over 10,000 unsold bicycles. By late 1977, brankrupcy was almost the only option.
