Suzuki to end hybrid dev with GM
Sunday, 17 January 2010
TOKYO, Jan 16 (Reuters): Suzuki Motor Corp said it would end joint development projects with General Motors for hybrid and fuel-cell technologies as part of an operational review following its alliance with Volkswagen AG.
Suzuki and Volkswagen last month announced a comprehensive tie-up, and Europe's top automaker Friday became Suzuki's biggest shareholder with a 19.9-per cent stake. Cross-shareholding between the two companies is part of the pact.
Suzuki had relied on General Motors, once its top shareholder, for help in developing hybrid and fuel-cell technologies. The Japanese carmaker told a gathering on Friday that those projects with GM would end in February.
Suzuki is in a comprehensive alliance with Volkswagen.
Suzuki and Volkswagen last month announced a comprehensive tie-up, and Europe's top automaker Friday became Suzuki's biggest shareholder with a 19.9-per cent stake. Cross-shareholding between the two companies is part of the pact.
Suzuki had relied on General Motors, once its top shareholder, for help in developing hybrid and fuel-cell technologies. The Japanese carmaker told a gathering on Friday that those projects with GM would end in February.
Suzuki is in a comprehensive alliance with Volkswagen.