An arbitration tribunal has pulled the plug on a once-promising green car alliance between Volkswagen AG and Suzuki Motor Corp. The German maker has now been ordered to sell back the 19.9% stake it had purchased in the Japanese car company.
But VW says that may yet sue Suzuki for damages as a result of the break-up of the alliance which was formed in 2009 but never got off the ground, instead developing into a bitter public dispute between the two companies.
“It used to feel as if a small bone were stuck in my throat,” Suzuki Chairman and Chief Executive Osamu Suzuki told a news conference after learning of the decision. “I feel so refreshed now.”