After months of truly tempestuous exchanges between the companies, Volkswagen has retracted wording that triggered the disintegration of its partnership with Suzuki in what appears to be an effort to salvage their once-promising relationship.
VW recognized in a statement that “the opportunity to exert notable influence upon Suzuki is, for the time being, no longer available.”
The German automaker had previously incensed Suzuki by stating in its March annual report that it could “significantly influence financial and operating policy decisions” at Suzuki.
VW also said that it no longer categorizes Suzuki as an associate, listing it instead under “other holdings.” Why the new classification would be seen as an upgrade was not immediately clear.
The company’s actions did not seem to immediately restore an amicable relationship with the Japanese automaker: Suzuki Italia President Junya Kumataki stated that “Suzuki decided to divorce from VW and we have nothing more to add.”
Last month, Suzuki chairman and CEO Osamu Suzuki offered to buy the shares VW holds in return for selling its 1.5 percent stake in Volkswagen back to its German “partner.”
