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.

If you liked the article, share on:

Topics: suzuki, vw, partnership

Comments

Recommended

Dubai is one of the few countries where expensive cars are the norm, many of which are specially modified as well. And this just in: Bentley has debuted the new...
by - November 21, 2017
The 2018 Jaguar XEL with its stretched-out wheelbase and longer doors is the newest addition to the growing list of premium sedans in China---joining the ranks of Mercedes-Benz C-Class L,...
by - November 21, 2017
Honda this week announced that its all-new 2018 Clarity Plug-in Hybrid will arrive at US dealerships with a starting price of $33,400 beginning on the first of December. Because the...
by - November 21, 2017
Lamborghini had been expected to refresh its entry-level model – the Lamborghini Huracan – in late 2018 or early 2019. But here is some good news for fans of the...
by - November 20, 2017
The Chevrolet Corvette will be turning 65 years old in 2018, and as part of the celebrations, the brand is introducing a special edition C7 – the Chevrolet Corvette Carbon...
by - November 19, 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