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Volkswagen forced to sell stake in Suzuki

The six-year-long failed marriage between Volkswagen and Suzuki has finally come to an end. Almost. An arbitration panel in London issued its final verdict which, according to a VW press release, cleared Suzuki in terminating the agreement, so VW now needs to get rid of its 19.9-percent share. However, the tribunal's decision said VW performed all of its obligations and Suzuki didn't – the Japanese carmaker should have given VW last-call rights for a delivery of diesel engines, but failed to. The breach opens Suzuki up to damage claim, but so far VW only says it reserves the right to sue. Now that Suzuki has an outside investor to provide funds it meant to get from VW, perhaps both can get back to their reasons for being. The press release is below. Ruling in arbitration proceedings: Cooperation between Volkswagen and Suzuki deemed terminated - Arbitral tribunal confirms Volkswagen met contractual obligations and finds that Suzuki has ordinary right to terminate agreement based on reasonable notice - Volkswagen to dispose of its 19.9 percent stake in Suzuki and expects positive effect on Company's earnings and liquidity from transaction - Arbitrators also find that Suzuki breached its contractual obligations to Volkswagen under the agreement and that Volkswagen has right to claim damages Wolfsburg, 30 August 2015 - An arbitral tribunal in London has announced its ruling in the dispute between Suzuki Motor Corporation and Volkswagen Aktiengesellschaft. As a result, cooperation between the two parties is deemed terminated. The arbitrators confirmed that Volkswagen met its contractual obligations under the cooperation agreement and found that Suzuki has terminated the agreement upon reasonable notice. Volkswagen will therefore now dispose of its 19.9 percent stake in Suzuki and expects a positive effect on the Company's earnings and liquidity from the transaction. The arbitral tribunal also confirmed that Suzuki breached its contractual obligations to Volkswagen under the agreement and that Volkswagen has the right to claim damages. "We welcome the clarity created by this ruling. The tribunal rejected Suzuki's claims of breach and found that Volkswagen met its contractual obligations under the cooperation agreement. Nevertheless, the arbitrators found that termination of the cooperation agreement by Suzuki on reasonable notice was valid, and that Volkswagen must dispose of the shares purchased.

Suzuki and Daihatsu join Toyota electric vehicle venture

TOKYO — Suzuki Motor Corp and Daihatsu are joining a commercial electric vehicle coalition led by Toyota Motor Corp, the carmakers announced on Wednesday, helping the Japanese alliance expand its focus from trucks to smaller cars. The two automakers will each acquire a 10% stake in the joint venture, on par with Isuzu Motors and Hino Motors, while Toyota will hold a 60% stake, they said. "With Suzuki and Daihatsu joining the project and working together, we'll be able to expand our circle of cooperation to not only cover commercial vehicles but also mini vehicles," said Toyota President Akio Toyoda. "With this expansion, I believe that we'll be able to take one step closer to a better mobility society," Toyoda said. The move comes as Japanese automakers face growing competition from tech giants and other rivals making electric and driverless cars. Toyota, Isuzu and Hino launched the Commercial Japan Partnership Technologies Corporation in April to bolster their competitive edge in connected, commercial vehicles. Daihatsu's president Soichiro Okudaira said joining the pact and introducing connected, mini-commercial vehicles would allow data sharing, a major benefit for companies to provide better services to customers and improve logistics efficiency. (Reporting by Eimi Yamamitsu; Writing by Ritsuko Ando; Editing by Louise Heavens) Related Video: Green Suzuki Toyota Daihatsu Electric Akio Toyoda

Junkyard Gem: 2005 Suzuki Aerio SX Suzuki Works Techno

Americans started buying new Suzuki cars with the debut of the 1985 Chevrolet Sprint and continued doing so through the era of the Geo/Chevrolet Metro and Tracker. Sales of the Samurai mini-SUV took off during the late 1980s, and the Swift sibling to the Metro became available here starting in 1989. The Suzuki American dream— at least the part involving four-wheeled, highway-legal vehicles— came crashing down in 2012, but the 2000s gave American Suzuki fans some interesting-yet-affordable machinery. We got the Kizashi (the side marker lights of which make great jack-O-lantern eyes) and the Suzuki Works Techno package for the Reno and the Aerio in 2005. I found a Reno SWT in California a few months back and figured that would be the first and last Suzuki Works Techno car I ever saw, but then this Aerio appeared in a Colorado car graveyard not long after that. The first two Fast & Furious movies proved to be a tremendous cultural influence on youthful car buyers, and Suzuki created the SWT package to cash in on the hunger for "carbon fiber" and "horsepower" in an affordable package. You didn't get anything that made the car go faster when you checked the SWT box, but you did get alloy wheels and "carbon fiber-styled" stuff all over the place, including the license-plate frame. The SX was the top-of-the-line Aerio in 2005, selling for (well, asking for) $15,449 with front-wheel-drive. That's about $20,900 in 2020 dollars. The hatchback version had some minivan/CUV-ness to its shape. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In most of the world outside of Japan and North America, this car had Liana badging. Perhaps the most famous Aerio/Liana of all time was the original Reasonably Priced Car on Top Gear UK, a 2002 Liana saloon. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Nobohiro "Monster" Tajima drove a modified-beyond-recognition Aerio hatchback up Pikes Peak in 2001, but it got knocked out by mechanical woes. We can't say what knocked out this Aerio, but it wouldn't have been the interior scent— not with three "Relax" Car-Freshner Little Trees on the job. Sadly, the Relax scent is no longer available. Whatever happened, it involved the car breaking down on a Colorado highway and getting the dreaded "red tag" from the CSP. I see quite a few of these tags on junkyard inmates.