New Delhi, Oct 17 :    New Delhi, Oct 17:  Daewoo Motors India Limited (DMIL) is trying to work out an arrangement with GM of the US under which it can offer the use of its surplus capacity to make cars under a common marque. 'We reckon we will be able to work on a closer platform should the need arise. If required, we may even request the use of their production facility in India and they can also use ours. But this sort of arrangement will be completely independent of the negotiations with GM on the possibility of picking up a stake in DMIL,' said Young-Tae Cho, managing director and CEO of DMIL. 'The signing of a binding contract will need more time. Although they have already come to India, checked our production facility and have shown interest in DMIL, we do not know our ultimate fate. Till then, I will strive to make DMIL a profitable company,' Cho explained. At the moment, the prospects for a cross-sharing arrangement between GM and Daewoo platforms looks pretty bleak with cars sales tumbling in the months of August and September with customers putting off purchases despite the attractive inducements being offered by carmakers. 'DMIL plans to launch the first car off the GM-Daewoo platform-the T200 or the Kalos as it is called,' says Anil Mediratta, head of sales in DMIL. 'The world launch of the car is slated for February. It will be launched in India next July. We have not shelved plans to launch Nubira or Lanos, but the ultimate decision has not been taken yet.' GM had cut DMIL out of the $ 400 million deal reached last month under which the world's largest carmaker is set to pick up a 67 per cent stake in a new company that will take over the assets of four Daewoo Motor Company plants.However, under the terms of the memorandum of understanding between Daewoo Motor Co and GM, the Indian plant will be able to source spare parts from GM. The Indian plant is the fourth largest of all Daewoo plants with the capacity to make 72,000 cars a year. Production at present has fallen sharply at DMIL with the uncertainty over its fate affecting operations. The company has stopped reporting its production and sales figures to the Society of Indian Automobile Manufacturers (Siam) for the past three months. Daewoo officials are chary of sharing these details with the press. Reports from Korea indicate that GM is still interested in Daewoo's plants in India because of its growth potential and market size. However, talks have got bogged down because Daewoo Motor's creditors in Korea have to resolve the conflict of interest over their shareholding in the Indian plant before the deal can be closed. 'DMIL belongs to Daewoo Corporation. The legal transfer of ownership from Daewoo Corporation to Daewoo Motor Company has already begun. GM will be able to sign a binding contract only after this transfer is completed,' said Cho. Meanwhile, Cho elaborated that DMIL is working on sprucing up the company. 'I am only interested in making it profitable. A big car company never vanishes, only the ownership may change,' he said. Cho said a new Matiz model will hit the roads next January. 'We are carrying out our research on various models and we will remain very busy next year.' Sources said the company had embarked on an aggressive cost-cutting drive -- the target has been revised from Rs 105 crore to Rs 150 crore. In a bid to boost sales, DMIL is coming out with a limited edition model of Matiz and Nexia and will soon embark on a major marketing thrust.