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Volkswagen Agrees to Buy 19.9 Stake in Suzuki as it Eyes Small car and Indian Markets

Confirming rumors that have been circulating for the past few months, Volkswagen and Suzuki announced on Wednesday that they have reached a common understanding to establish a close long-term strategic partnership.

Under the settlement, VW will buy a 19.9 in line with cent stake in Suzuki Motor Corp for 225 billion Yen (approx US$2.Five billion) while the Japanese automaker will make investments up to one half of the amount obtained from the German automaker into shares of Volkswagen.

The move comes only a few days after the Volkswagen Group announced that it received a 49.Nine% stake in Porsche AG's vehicle operations for ?3.Nine billion.

Volkswagen plans to make the pleasant of Suzuki's knowledge in small, gasoline-green vehicles as properly the Japanese organization's presence in India in which it controls Maruti Suzuki India Ltd, the maker of half of all vehicles offered inside the usa.

At a joint press convention in Tokyo, Suzuki Chief Executive Officer Osamu Suzuki said that the two businesses additionally plan to develop hybrid and electric cars below both manufacturers.

"As demand continues to rise for smaller cars and for powertrains with higher fuel efficiency and lower CO2 output, Volkswagen and Suzuki will offer a compelling solution for customers in emerging markets buying a car for the first time and also for customers in advanced economies seeking to lower their CO2 footprint while still enjoying the freedom of transport offered by an exciting range of cars," VW said in a prepared statement to the press.

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