Pune, December 12: German Auto major Volkswagen today said it was exploring “areas of cooperation” with Suzuki Motor in India for small cars.
“We need a car below ‘Polo’ to extend our market share in India. We are happy about our cooperation with Suzuki Motor which has just started and will look for common approaches and synergies on long term strategic issues,” Jochem Heizmann, Volkswagen Group Board member told reporters.
Europe’s Volkswagen will buy 19.9 per cent stake in Indian carmaker Maruti’s Japanese parent Suzuki for about USD 2.5 billion (over Rs 11,500 crore), a move aimed at enhancing its presence in small car segment in Asia.
While stating that there were no “concrete projects” defined so far by the two Auto majors, he said “we complement each other well and there is a big potential for common approaches”.
–Agencies