March 6, 2006
GM has no plans to abandon relationship with Suzuki
Detroit, Michigan – Following reports in some U.S. newspapers that General Motors might substantially reduce or sever its relationship with Suzuki, GM has issued a statement that it has “no plans to fully unwind its current equity relationship with Suzuki.”
In a tersely-worded statement, GM says, “The strategic and business relationship between GM and Suzuki is robust and will continue. In the event GM reduces its stake in Suzuki, it will be done in an orderly manner through an open market repurchase. GM has no further comment about today’s speculative news reports.”
General Motors and Suzuki formed a partnership in 1981; some of its joint ventures include variants of GM’s global V6 engine built at Suzuki’s engine plant in Japan for use in that company’s vehicles, and brand-specific badging of shared GM-Daewoo vehicles, including the Chevrolet Aveo/Suzuki Swift+ and Chevrolet Epica/Suzuki Verona for the Canadian market.