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Volkswagen and Suzuki agree on partnership


The two companies have signed a framework agreement to establish a long-term strategic partnership

Pending approval in January 2010, Volkswagen will purchase 19.9% of Suzuki's issued shares.

According to a statement, Suzuki intends to invest up to half of the amount received from Volkswagen  into shares of the company.

The companies plan a joint approach to the growing worldwide demand for more environmentally friendly vehicles. Volkswagen and Suzuki aim to offer a solution for customers in emerging markets buying a car for the first time and also for customers to lower their CO² footprint.

The statement says, "Both companies will establish a cooperative relationship while respecting each other’s independence as a stand-alone entity. Both parties are focused on achieving synergies in the areas of rapidly growing emerging markets as well as in the development and manufacturing of innovative and environmentally friendly compact cars."

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