Volkswagen has secured an expanded presence in India and Japan with a deal to buy a fifth of Suzuki Motor in a tie-up that will significantly boost the German carmaker's foothold in the small car market.
The move, announced yesterday, came in the week that VW bought 49.9 per cent of Porsche for €3.9bn and marked another step in chairman Ferdinand Piëch's drive to build a global giant.
VW and the Japanese company would buy each others' shares and co-operate “while respecting each other's independence”, the German carmaker said.
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