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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.

The Suzuki Misano is a concept car inspired by motorcycles

Lately, concept cars have become showcases of touchscreens and batteries, but remember not that long ago when they used to get you excited about automobiles, driving, and design? Now Suzuki, of all companies, has unveiled a concept that brings us back to the stirring show cars from a bygone era. The Suzuki Misano is a low-slung, open-top sports car that asks the question, what if there was a four-wheeled motorcycle? Inspired by the Japanese firm's long history of high-performance two-wheelers, the Misano seeks to "merge the adrenaline rush on two wheels with the driving experience on four." The Misano caps off a thesis project for 24 students of transportation design at Istituto Europeo di Design Torino with collaboration from Suzuki. It has a footprint of 157 inches by 69 inches, or about the length of a BMW i3 and the width of a VW Polo. Its height, however, measures only 39 inches, about 50 percent shorter than a Toyota Yaris hatchback. Like concept cars of old, the Misano does pack in one wacky idea that has no chance of making it into production. It offers a tandem 1+1 seating position, even though it's wide enough for a side-by-side construction. Not only that, but the seats are off to one side. We would've expected a side-mounted motorcycle engine on the other, but it actually contains a trunk and small battery pack. Presumably, the Misano is an EV. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Strictly speaking, it's a barchetta because it has no mechanism for covering the cockpit and barely a windscreen. In lieu of a steering wheel, the car is controlled by what the IED statement calls a motorcycle-inspired yoke. Clear openings in the doors provide a view of the road that only a motorcycle can match. It's not the first time Suzuki has answered the question of a four-wheeled motorcycle. In 2001, it showed the Hayabusa-powered GSX-R/4 concept, which featured a more traditional seating position. The Misano is just the right amount of beautiful design and bonkers-ness that makes you wish for an alternate universe where it would make it into production. But alas, we know it'll be a miracle if Suzuki ever makes a sports car again. If you happen to be in Italy and want to check out the Misano for yourself, it will be on display at the Museo Nazionale dell’Automobile di Torino from Saturday May 15th to Sunday June 6th 2021. Related video: This content is hosted by a third party.

Mitsubishi CEO vows to stay in US on heels of Suzuki's departure

By now, you're surely aware that Suzuki is pulling out of the US market. It was a bit of a foregone conclusion to most who've been paying attention to the automotive realm, but it still sent a small shockwave through the industry. And one of the most oft-heard retorts goes something like this: "Next up: Mitsubishi."
It's easy to understand why many question Mitsubishi's existence in the States. After all, now that Suzuki is gone, Mitsubishi is the Japanese automaker with the fewest sales in America. Furthermore, the automaker's market share has dropped from .7 percent to just .4 percent after seeing sales fall 29 percent to 50,103 units through October.
In any case, Mitsubishi fans needn't worry. Speaking to Automotive News, Mitsubishi President Osamu Masuko said, "We have no intention whatsoever of withdrawing from the US market." That's about as clear as clear can get. It's also worth mentioning that Gayu Uesugi was just named chairman of Mitsubishi Motors North America, and his main responsibility will be to revitalize the brand in the US.