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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.

New Audi design chief Massimo Frascella shaped cars for Jaguar Land Rover

At the Audi brand, style and design have long been a high priority; think the super sleek and sexy A7 sedan, the Bauhaus-inspired TT coupe, the single-frame grille that instantly identified the marque with its down-the-road graphics. So when the Bavarians install a new head of design, that’s also worth a look. Massimo Frascella is that person, a 52-year-old Italian designer who this summer will succeed Marc Lichte. Lichte ran Audi design since 2014 and will take up a new role within the Volkswagen Group. Frascella, a student at the Istituto d`Arte Applicata & Design in Turin, ignited his career at Stile Bertone, and his resume after that evolves impressively. He subsequently held positions at Ford Motor Company and Kia, and since 2011, Frascella has held senior positions at Jaguar Land Rover. He was responsible for the creation of several models: Discovery Vision Concept (2014), Discovery Sport (2014), Discovery (2016), Velar (2017), Evoque (2019) and Defender. In 2019 he became creative director of Land Rover and in 2020 design director. He was also instrumental in the development of the range of new electric Jaguars that are in the works. “Joining Audi is a very special moment for me,” Frascella said. “I am deeply honored to assume the role of chief creative officer and to guide such a talented team in shaping the future of the brand to new heights of innovation and distinction. I believe in the emotional power of design to inspire, connect, and drive change, and I am here to nurture and promote creativity as the beating heart of our brand.” Looking back a couple of decades, it was one of FrascellaÂ’s predecessors who helped to cement AudiÂ’s reputation in automobile design: Walter de Silva. De Silva was appointed head of Audi design in 2002. From 2007 to 2015, he supervised the design strategy for the entire Volkswagen group, including the TT, the Scirocco, the Passat and the Golf. Not a bad list of achievements, but in a interview several years ago, de Silva said that he considered the 2007 Audi A5 coupe the pinnacle of his automotive design art, citing its “sex appeal, the shape of the lights, the architecture.” Design/Style Audi Jaguar Land Rover Volkswagen Automotive History

2013 Volkswagen GTI Driver's Edition brings exclusivity to the granddaddy of hot hatches

The Volkswagen booth at this year's Chicago Auto Show was filled with various special edition models of the Beetle and GTI. In addition to the GTI Wolfsburg Edition, the Volkswagen GTI Driver's Edition helps to wrap up the 2013 model year as VW readies the all-new MkVII Golf next year.
Only 3,000 of the GTI Driver's Edition models will be produced in four-door body style only, and the available color palette will be limited to just Candy White, Carbon Steel Gray and Deep Black. The package will come standard with the GTI's Sunroof and Navigation package, and it will add unique features such as the 18-inch "Laguna" wheels, a golf-ball shift knob, partial leather seats and red-stitching on the carpeted floor mats. Buyers of this package will also get a certificate of authenticity and some GTI swag such as a hat, keychain and parking sign.
Starting price for the 2013 Volkswagen GTI Driver's Edition is $29,695 with the six-speed manual and $30,795 if you choose the DSG - both prices exclude destination charges.