Timing of arbitration ruling on Suzuki-VW dispute remains unclear

Article by Christian A., 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

Recommended

The 2018 Cadillac CTS-V sedan will be getting a new paint job that will give it a unique icy feel. Dubbed the Glacier Metallic Edition, this special model was built...
by - August 23, 2017
During the North American International Auto Show at Detroit in 2015, Hyundai introduced a concept pickup truck they named the Santa Cruz. This model took home the Concept Truck of...
by - August 23, 2017
Porsche introduces the technologically advanced wheels with braided carbon fiber. These will be initially available on the 911 Turbo S Exclusive Series. Being the first car manufacturer to offer such...
by - August 23, 2017
All eyes were turned to the fuchsia pink bespoke McLaren 720S MSO at the 2017 Pebble Beach Concours d’Elegance Sunday. Surely, we can understand why. The one-off supercar, which was...
by - August 23, 2017
Hyundai Motor Group – including both Hyundai Motor and Kia Motors – has disclosed a wide-ranging plan to introduce 31 environment-friendly models in a new development roadmap that aims to...
by - August 22, 2017
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