It was developed on the basis of the Daewoo Tico, version under license of the Suzuki Alto, with which both Tico and Matiz share mechanics and suspensions.
From this origin derives its characteristic narrow width, imposed by the Japanese kei car tax category. It was given a face lift for the M150 model. In China, the models were sold under Chevrolet Lechi.
The third generation of Chevrolet Matiaz (under the model name Daewoo Matiz Creative) M300 in 2009 became more attractive, but less popular than previous models, predominately sold in Korea.