Timing of arbitration ruling on Suzuki-VW dispute remains unclear

Article by Christian Andrei, on June 16, 2014

It remains unclear when an international arbitration court will issue a ruling on a dispute between Suzuki Motor and Volkswagen AG over a failed collaboration. Suzuki filed for international arbitration in November 2011 following a refusal by Volkswagen to sell back a 19.9-percent stake in the Japanese carmaker that it acquired in January 2010 for EUR1.7 billion ($2.3 billion).

Sources told Automotive News earlier this month that an arbitration court based in London had already finished hearing witnesses and was expected to give a decision before the end of 2014.

Suzuki chairman Osamu Suzuki, when asked on whether the two parties could reach a settlement, said repeatedly: "We are the ones that took this to court." Suzuki and Volkswagen reached an agreement in December 2009 to create a partnership on technologies in areas like hybrid and electric vehicles.

The partnership will also tackle expansion in emerging economies. Suzuki, however, eventually claimed that VW withheld hybrid technology it had vowed to share and has demanded that the German carmaker return the 19.9 percent stake.

Volkswagen, meanwhile, complained about the Japanese carmaker acquiring of diesel engines from Fiat.

Topics: suzuki, vw, partnership

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Hyundai is making the green vehicle race more competitive by offering three powertrain types -- pure electric (EV), hybrid (EV plus combustion engine) and plug-in hybrid (PHEV) – in one...
by - December 9, 2016
Although specs for the new Renault Megane had already surfaced several weeks ago, we didn’t know that the company has cooked up something new. Aside from the 200hp gasoline, Renault‘s...
by - December 9, 2016
For the first time in fifty-eight years, Infiniti registers its first US-Spec Q60 Coupe in Cuba. American products have not been allowed entry into Cuba for six decades. But it...
by - December 9, 2016
Chevrolet has already given out the pricing for some of its 2018 Equinox models. Not only will the new Equinox be available in both the US and Canada, it is...
by - December 9, 2016
Nearly all details have been set with regards to the upcoming market introduction of the new Jaguar I-Pace. Its production version was recently previewed at the 2016 Los Angeles Auto...
by - December 8, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries