Vw-Suzuki saga continues as Volkswagen doesn’t want to end the partnership

Article by Christian Andrei, on November 20, 2011

Suzuki Motor Corp intends to purchase around 20 percent of its own stock back from Volkswagen by November 16, 2012, the Japanese automaker disclosed. The plan, however, is contingent on Volkswagen releasing the shares. Suzuki will seek mediation in case VW will not release the shares -- either to the Japanese company or to a third party that it specified.

In January 2009, VW purchased 19.9 percent share of Suzuki for around 1.7 billion euros or $2.4 billion.

On the other hand, Suzuki acquired a 1.49 percent interest of VW. The tie-up was presented as a partnership of equals, meant to reinforce the presence of VW in India for small vehicles and to provide Suzuki access to technology it that it could not afford to develop on its own.

However, the two automakers have been at odds since VW stated in its March yearly report that it could "significantly influence financial and operating policy decisions" at Suzuki. VW had also described Suzuki as an "associate," a term that VW later dropped. [source: Autonews]

Topics: vw, suzuki, partnership

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Nikola Motor’s hydrogen-powered semi-trailer truck is highly appealing with its many advancements but don’t expect it to arrive in the near future. In November 2016, Toyota announced the possibility of...
by - December 5, 2016
Usually, it is up to resourceful spy photographers to take clear pictures of vehicle prototypes, especially those that have aroused a lot of interest. The same is true for Project...
by - December 5, 2016
The much-anticipated debut of the new Wrangler will surely happen. As it approaches, we’ve gathered all the latest information released so far. Of course, most are expecting that the next...
by - December 5, 2016
Nissan has announced the pricing for its new commercial pickup line. So for those who have been waiting for Nissan’s official price list (plus a little more info), read on… ...
by - December 5, 2016
Sorry folks, the AMG-fied Mercedes-Benz X-Class will remain in the fantasy world. According to some news, the AMG big boss has finally spoken up about why an AMG X-Class is...
by - December 5, 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