Published on 01 Nov 2011 by Adriano
Following recent reports of ongoing disputes between the two groups, Volswagen AG made it clear in a recent statement that Suzuki Motor Corp. is no longer considered an “associate” by the German carmaker.
The roots of the break-up go back to March, when VW stated in its annual report that the group could “significantly influence” financial and operating decisions at Suzuki, a move that the Japanese carmaker did not appreciate at all, to say the least. That argument triggerd a series of events - especially Suzuki’s engine supply agreement with Fiat -that eventually led to the end of the partnership.
In response to the news, Suzuki Italia President Junya Kumataki confirmed that “Suzuki decided to divorce from VW”, refusing to comment any further on the matter. Suzuki also insists on VW to sell back its 19.9 % share of the Japanese carmaker but VW repeatedly stated that it will keep the holding, dismissing Suzuki allegations that the Wolfburg-based manufacturer violated their partnership agreement by not sharing technology.
via | Autonews.com