Monday June 29, 2009
FRANKFURT: The biggest European car maker, Volkswagen, is mulling an investment in Japanese peer Suzuki, the German publication Manager Magazin said on June 25. VW is thinking of buying a 10 percent stake, the magazine said, quoting sources close to the company. But "no talks are in progress yet" and "we are still sniffing around," an unidentified VW director was quoted as saying.
A VW spokesman declined to comment when contacted by AFP. But VW development director Ulrich Hackenberg reportedly looked into the possibility during a trip to Japan a few weeks ago, and came back with a "positive impression," the monthly magazine said.
VW is reportedly interested in Suzuki's penetration of the Indian car market, where the German group lags behind, and by its very small models. In late May, VW said it was mulling a co-operation with the Chinese company BYD to build hybrid or electric cars.
(AFP)
FRANKFURT: The biggest European car maker, Volkswagen, is mulling an investment in Japanese peer Suzuki, the German publication Manager Magazin said on June 25. VW is thinking of buying a 10 percent stake, the magazine said, quoting sources close to the company. But "no talks are in progress yet" and "we are still sniffing around," an unidentified VW director was quoted as saying.
A VW spokesman declined to comment when contacted by AFP. But VW development director Ulrich Hackenberg reportedly looked into the possibility during a trip to Japan a few weeks ago, and came back with a "positive impression," the monthly magazine said.
VW is reportedly interested in Suzuki's penetration of the Indian car market, where the German group lags behind, and by its very small models. In late May, VW said it was mulling a co-operation with the Chinese company BYD to build hybrid or electric cars.
(AFP)
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