If Volkswagen wants a bigger stake Suzuki would refuse it, report says
By Andrew C., 30 Aug, 2010. 0 Comments
2010 Vw Scirocco R
When an agreement was entered earlier this month for Volkswagen AG to become Suzuki Motor Corp.'s biggest shareholder and for Suzuki to take a stake as well, questions were raised on whether VW will eventually take a controlling or majority stake in the Japanese manufacturer. At a news conference at the Foreign Correspondents' Club of Japan, Suzuki Motor Corp. CEO Osamu Suzuki stated that he would refuse an offer for VW to take a bigger stake. He explained that it's likely that if Suzuki grows and becomes more successful, VW will want a bigger stake. He asserted however, that when that happens, Suzuki will probably reply with, Let's continue as we are. When the deal between the two carmakers was reached, many industry watchers fully expected VW to try to get a controlling or majority stake in Suzuki as it aims to overtake Toyota Motor Corp. to become the world's biggest carmaker by 2018. Mr. Suzuki disclosed that he wouldn´t want the brand to be known as the 12th Volkswagen brand. He said that he considers the comprehensive equity alliance completed this month to be one between "equal partners." [via autonews - sub. required]
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