Suzuki Motor Corp. said Wednesday it expects to prevail in the arbitration it started with Volkswagen AG, seeking to buy back its shares from the German partner.
“No one enters a sumo match expecting to lose,” Osamu Suzuki, chairman of the company, said Wednesday at the Tokyo Motor Show.
Suzuki said last week it started arbitration at an international court in London, aimed at ending its two-year-old partnership with VW and forcing the German company to sell back its 19.9 percent stake in Suzuki.
Each firm has accused the other of breaching their cooperation agreement, which was meant to supply Suzuki with technology and provide VW with greater access to the Indian car market.
Chairman Suzuki, 81, said he plans to personally participate in the arbitration.
“I was the one who negotiated” the agreement, he said.
The two carmakers have been at odds since VW described Suzuki as an “associate” in its 2010 annual report. Suzuki said Nov. 18 it had terminated the partnership, which failed to yield a single joint project.
VW Chief Executive Officer Martin Winterkorn reiterated in comments before the Tokyo show that the company intends to keep its stake in Suzuki.
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