1/19/2010
VW & Suzuki Seek Standardization of Automotive Fasteners & Other Parts

Volkswagen AG and Suzuki Motor will promote the standardization of automotive fasteners and other parts, president Osamu Suzuki told a news conference.

Japanese news service Nikkei reported Volkswagen became Suzuki’s top shareholder by acquiring a 19.9% stake and Suzuki will buy 100 billion yen (US$1.1b) in stock in Volkswagen.

Volkswagen and Suzuki will identify parts, including fasteners, platforms and engines, suited for standardization.

The shared standardization may lead to co-developing new vehicles. Suzuki will use Volkswagen’s environmental technology, including hybrids and electric vehicles, through joint development or technology licensing.

The companies will exchange midlevel personnel and engineers on a project basis.

The stock transactions do not include co-marketing.

The VW deal would replace previous arrangements with Renault, Peugeot Citroen, Fiat and General Motors. ©2010 GlobalFastenerNews.com