Osamu Suzuki News
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Suzuki Motor Corp. said it expects production at the Manesar, India, factory run by its local unit to recover to 800 cars a day this month after riots over a labor dispute in July caused its closure for a month.
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Suzuki Motor Corp. will seek to dissolve its 20-month-old alliance with Volkswagen AG after the German carmaker’s 222.5 billion yen ($2.9 billion) investment failed to yield a single project.
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A tiff that started over Volkswagen AG’s description of Suzuki Motor Corp. in its annual report has escalated into a spat threatening to unravel the two automakers’ planned alliance before the partnership ever gets going.
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Suzuki Motor Corp. accused Volkswagen AG of violating a partnership agreement by not sharing technology and reiterated its demand that the German carmaker sell back its stock.
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Nissan Motor Co., Japan’s second- largest carmaker, said Chief Executive Officer Carlos Ghosn is considering stepping down before the company’s next mid-term business plan begins in about five years.
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Volkswagen AG rejected efforts by Suzuki Motor Corp. to force an end to a two-year-old partnership that hasn’t yielded a single project.
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Maruti Suzuki India Ltd. , India’s biggest carmaker, posted an 18 percent drop in third-quarter profit as a stronger yen, higher royalty payments and increased raw material prices damped gains from record sales.
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Volkswagen AG, Europe’s largest carmaker, stood by its accusation that Suzuki Motor Corp. breached a partnership agreement, rejecting the Japanese company’s calls to restore its “honor.”
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The “likely end” of Volkswagen AG’s alliance with Suzuki Motor Corp. is negative for the German automaker’s credit because it limits growth options in Asia, including India, Moody’s Investors Service said.
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Suzuki Motor Corp., Japan’s second- largest maker of mini-cars, has “no plans” to set up joint production with Volkswagen AG in China, Suzuki Chairman and Chief Executive Officer Osamu Suzuki said today.
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