In a move more or less anticipated after the recent publication of Volkswagen's internal review that accuses Suzuki of breaking a contract agreement between the two companies by purchasing diesel engines from Fiat, the Japanese carmaker said it will abort its alliance with the German group.
Suzuki's announcement comes almost two years after it forged a partnership with Volkswagen. The German had acquired a 19.9 per cent stake in Suzuki Motor Corp in December 2009 for 225 billion Yen (then, approx US$2.5 billion) while the Japanese automaker agreed to invest up to one half of the amount received from the German automaker into shares of Volkswagen.
Read more »
No comments:
Post a Comment