Volkswagen to buy stake in Suzuki by the end of 2009
Almost a month ago, Volkswagen CEO Martin Winterkorn said that Suzuki Motor Corp. would an interesting partner because of the Japanese automaker’s competency with small cars. According to a report by Automobilwoche, Volkswagen is now expected to take a stake in Suzuki by the end of 2009.
“We expect that there will be a basic agreement this year,” the publication quoted a Volkswagen executive as saying at the 2009 Frankfurt Motor Show. “For Suzuki and VW this connection would be a win-win situation. Suzuki would have access to a variety of VW’s technology, while Volkswagen would have a solid supporting leg in India and Southeast Asia.”
Volkswagen declined to comment, while Suzuki was unavailable for comment.
– By: Stephen Calogera
Source: Reuters
