VOLKSWAGEN'S plans to buy a minority stake in Suzuki, giving the German company a major interest in the small-car and motorcycle industries in India and South-East Asia, could come true by the end of this year, a news report said yesterday.
Media have seized on a remark by Volkswagen board chief Ferdinand Piech in Frankfurt that he wants 12, instead of 10 brands. The German automotive conglomerate has voiced interest in Suzuki of Japan and truck maker MAN of Germany in the past.
The weekly Automobilwoche on Saturday quoted a "senior Suzuki executive" as saying: "We expect an agreement in principle this year."
Volkswagen sources have said a stake of 10 to 20percent in Suzuki was under debate.
Automobilwoche quoted the executive saying the tie-up would benefit both parties. - Sapa-dpa