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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 iK-2 and iM-4 concepts suggest future style

Suzuki might no longer sell cars in the US, but the Japanese brand is showing that it's still vibrant in the rest of the world by unveiling two concepts at the Geneva Motor Show. The models also debut some the company's future technology and preview the look of upcoming production vehicles. The iK-2 Concept (top) foreshadows a future compact hatchback, and Suzuki is clear that a production version is due to arrive in Europe in 2016. Its styling is a flowing take on the traditional five-door hatchback, especially around the front fenders. More importantly, the model also rides on the Japanese brand's next-gen platform that promises to be lighter, more rigid, offer better efficiency and improve safety. Power comes from the new Boosterjet engine, but despite the speedy name, it's a 1.0-liter, direct-injected, turbocharged three-cylinder. A mild hybrid system is also going to be offered on the iK-2, but outputs for the powertrains aren't specified yet. The more interesting of the pair visually is the Suzuki iM-4 Concept (pictured inset) that imagines a simple, mini offroader, possibly a replacement for the Jimny. It's on the same platform as the iK-2 but with a much higher ride height and quirky styling. The grille and headlight configuration take inspiration from a pair of sunglasses, Suzuki claims. The model also features broad, fairly unadorned surfaces and short overhangs. The whole look just gives the impression of a little mountain goat ready to go anywhere. Power goes to all four-wheels thanks to a 1.2-liter engine and mild hybrid system. With Suzuki long gone from the US, your best chance to look at the brand's latest concepts might be to check out our live galleries from the Geneva show. iK-2 – SUZUKI'S NEW COMPACT HATCHBACK CONCEPT The smartest compact car developed by pursuit of compact hatchback ideals to a new even higher level for Suzuki Excellent design and utility integrated into a single package Design theme of "Liquid Flow", elegant design with flowing lines suggestive of an energetic movement of liquid Built around a new-generation platform and equipped with BOOSTERJET engine Production model to be released in Europe in 2016 Making its global debut at the 85th Geneva Motor Show, Suzuki Motor Corporationreveals its new compact hatchback concept car, the iK-2. The iK-2, the smartest compact car, offers all the elements expected in a car of this size.

Marchionne now considering 'Plan B' partners for FCA merger

Okay Sergio, just stop. With the sting of rejection from General Motors CEO Mary Barra still fresh, Fiat Chrysler Automobiles CEO Sergio Marchionne is moving on and trying to find another automaker to merge with. FCA may not be giving up hope on a merger with GM, but that doesn't mean it isn't at least considering alternatives. Sergio's so-called "Plan Bs" include the Volkswagen Group, as well as smaller Asian outfits, like Mazda, Honda, Suzuki, and Hyundai. Bloomberg reports that France's beleaguered PSA Peugeot Citroen could as a sort of "fallback" option due to its relative lack of volume, an unidentified source claimed. There are, of course, problems with each option. According to Bloomberg, Volkswagen expects complete control of a company, but the Agnelli family, which holds a large portion of FCA stock, is loathe to relinquish its stake in the company. On top of that, VAG just isn't looking to make a deal right now. Mazda, meanwhile, is enjoying a new partnership with Toyota and Suzuki is partially owned by VW. Honda and Hyundai have never expressed any interest in a partnership with a western automaker. That kind of just leaves the French then, but even that remains a long shot. As Bloomberg tells it, PSA boss Carlos Tavares is still working on a turn-around plan, and would want at least another six months to execute before even considering a deal with FCA. And even then, Tavares hasn't given any indication that he's considering a pairing. News Source: BloombergImage Credit: Paul Sancya / AP Chrysler Fiat GM Honda Hyundai Mazda Suzuki Citroen Peugeot Sergio Marchionne FCA Mary Barra psa peugeot citroen