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Osamu Suzuki announces retirement at age 91

TOKYO — Suzuki's 91-year-old chairman, Osamu Suzuki, announced he will retire in June, stepping aside for a new leader to navigate the shift to electric cars and fight off competition from tech firms such as Tesla and Apple. The chairman, after heading for more than four decades the company that his wife's grandfather founded, is leaving his son Toshihiro Suzuki, already president and CEO, to hold the reins of the company. Osamu told reporters on Wednesday he decided to retire after the company welcomed its 100th anniversary last year and its new management plan won approval. But he said he will "remain active" as an adviser. "I will neither run away nor hide," the patriarch said, who has repeatedly declared in the past he will be a "lifelong non-retiree." The company also announced on Wednesday it will invest one trillion yen ($9.45 billion), mostly on electrification technology, over five years. The younger Suzuki said the company needed to respond to a global push towards lower emissions. "Carbon neutral is the focus now. Suzuki must not fall behind this global trend," he said. The announcement by Japan's fourth-biggest automaker comes less than a week after rival Honda appointed a new CEO, who said he would consider alliances to make bold decisions. Carmakers, particularly smaller players such as Suzuki, are seen at a disadvantage due to the huge cost of developing EVs and technologies such as autonomous driving. Suzuki, alongside other automakers such as Mazda and Subaru, tied up with Toyota in 2019 to slash development and manufacturing costs. Osamu Suzuki, who joined Suzuki Motor in 1958, became president in 1978 and doubled as chairman in 2000. During his tenure, the company solidified its presence as the top maker of compact cars. He spearheaded the company's decision to enter its key Indian market in 1983. Maruti Suzuki, which the carmaker owns a majority stake in, is India's top carmaker, selling every second car in the country. In 2016, Suzuki stepped down as CEO to take responsibility for the firm's use of incorrect testing methods to calculate vehicle mileage, but he remained chairman. Osamu, who waved and said "bye-bye" at the end of Wednesday's news conference, will be appointed as senior adviser upon retirement.

Suzuki Jimny LCV is a bare-bones two-seater

The Suzuki Jimny is a truly versatile vehicle, and we don't just mean in its prodigious off-road capabilities. Turns out, the compact 4x4 can be configured in a variety of ways to skirt the road tax rules and enthusiast demands of various markets, making it an even more desirable proposition for a budget four-wheeler. The latest variant arrives in the form of the Jimny LCV for the U.K. market. That stands for Light Commercial Vehicle, and as such it's not subject to the same strict emissions rules as passenger cars. It also means that it doesn't come with any rear seats, expanding the cargo area to just a hair over 30 cubic feet. In fact, the U.K.'s emissions laws were so strict, Suzuki was forced to take the Jimny off the market in early 2020. After a year's hiatus, this workaround was the only way to bring the popular SUV back to old Blighty. There's only one trim level to the Jimny LCV. It comes with solid colors, but you can order metallic or two-tone paint for an extra charge, its only option. As with most LCVs, there's a safety partition separating the cargo from the front seats. Compared to the passenger version with all seats folded flat, there's an extra 1.2 cubic feet of hauling space. The Jimny LCV might just be the latest version, but it's not the only one. There's already a narrow-body and small displacement version to qualify it as a kei car in its native Japan. Also, there's the recently announced Jimny Lite to serve as a blank canvas for enthusiasts who want to build their own rig. Like the Jimny Lite, the Jimny LCV comes with analog climate controls as opposed to digital, a traditional stereo in place of a touchscreen, halogen headlights instead of LED, 15-inch steel wheels instead of aluminum and a five-speed manual as the only transmission option. It differs from the cost-saving Lite, however, in that the LCV retains its fog lamps. Of course, it the LCV still retains the things that make it a great off-roader, including the ladder-frame construction, solid front and rear axles, and low-range gearing. In essence, it's a wink to true enthusiasts who missed their chance to get a Jimny prior to 2020. Suzuki U.K. says that it will be "available in very limited numbers" for 2021. So, if you live there and want a new Jimny, the four-wheeling gods have given you a rare second chance. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Suzuki and VW finalize their divorce

The rocky divorce between Suzuki and Volkswagen is finally over after working its way through the International Court of Arbitration since 2011, according to the Japan Times. In the final settlement to end the companies' disputes, Suzuki agreed to pay VW an undisclosed amount for not living up to the agreement to use the German automaker's diesel engines. While they won't disclose the exact sum, Suzuki said in a statement that the money "will not have any significant impact" on its 2015 fiscal year results, which will end in March. The arbitration court took the biggest step to end this transcontinental partnership in August 2015 when the body ruled VW needed sell its 19.9-percent stake in Suzuki. However, the Japanese company wasn't entirely off the hook because VW was still allowed to sue for damages over the diesel engine issue. This latest decision finally clears up that dispute. Like most marriages, the union between VW and Suzuki began with stars in both parties' eyes. The Germans paid $2.8 billion to buy 19.9 percent of the Japanese company in December 2009. VW was supposed to get greater access to the auto market in India, and Suzuki hoped to capitalize on access to its partner's advanced technology. By 2011, rumors started percolating that things were contentious behind closed doors. VW allegedly tried to assert control over Suzuki's operations, and the Japanese company reportedly wasn't happy with its access to the German tech. Suzuki even bought diesel engines from Fiat, rather than VW. Later that year, company CEO Osamu Suzuki announced he would end the alliance, and they started working through arbitration. Notification Concerning Resolution of Arbitration by Settlement As Suzuki has reached a settlement regarding the arbitration that Suzuki filed with the International Court of Arbitration of the International Chamber of Commerce on 24 November 2011, Suzuki informs you of the following: 1. History from the Request for Arbitration to the Settlement As announced in the "Notification Concerning Arbitration Award" dated 30 August 2015, the Tribunal indicated that it would address the issue of alleged damages arising from Suzuki's breach of the agreement claimed by Volkswagen AG ("VW") in a further stage of the arbitration proceedings. Suzuki reached a settlement with VW in regard to such arbitration proceedings on 10 February 2016. Accordingly, the arbitration proceedings have been concluded. 2.