FRANKFURT: German car giant Volkswagen and Suzuki of Japan revealed an alliance on Wednesday to give VW a solid footprint in the Indian automarket for about 1.72 billion euros (2.53 billion dollars).
One analyst said the cash-and-share deal could also accelerate restructuring of the global automobile industry.
VW is to buy a 19.9-per cent stake in Suzuki by January 2010, and Suzuki would also acquire a stake in Europe’s biggest carmaker, a joint statement said.
