Relationships between Suzuki Motor Corporation (SMC) and Volkswagen AG worsen. It appears from the announcement of SMC released. It is said, has sent a notice of violation Suzuki cooperation to Volkswagen AG under the agreement on December 9, 2009.
Access to Technology
In that release, Chairman and CEO Osamu Suzuki says SMC, "finance Alliance Suzuki is the facility to be able to access Volkswagen's core technology. I am disappointed because it could not accept any of that has been promised. If VW does not give access, Suzuki shares to be returned. "
In the cooperation agreement, VW bought 19.9 Suzuki shares a message. In contrast, Suzuki bought 1.49 percent of VW shares.
Meanwhile, Suzuki denied the revelation was an effort to end the cooperation. "Suzuki has given a few weeks to VW to correct the violations. Top executives of both companies still keep in touch, "said Yasuhito Harayama, Executive Vice President of the SMC at a press conference in Tokyo today.
On 22 September, accusing VW Suzuki "cheating" by buying a diesel engine from Fiat SpA. Suzuki did not receive and consider the allegations have underestimated his honor. To that end, VW asked to withdraw the allegations.
Responding to the statement, Volkswagen spokesman Michael Brendel, who was contacted by Bloomberg today said, "The accusation was completely unfounded. Volkswagen since the initial agreement runs well and strive to maintain. "
