Suzuki exits China after dissolving tie-up with Changan
Suzuki has agreed to transfer the 50% stake it holds in Changan Suzuki to Chongqing Changan Automobile Co. as soon as legal proceedings are completed
Suzuki Motor Corp. is pulling out of China after dissolving its last remaining auto-making partnership in the world’s biggest car market. Suzuki agreed to transfer the 50% stake it holds in Changan Suzuki to Chongqing Changan Automobile Co. as soon as legal proceedings are completed, it said in a statement today. Suzuki will continue licensing of production and sales of Suzuki models to Changan Suzuki.
Sales of the Suzuki Changan joint venture declined 27% last year, according to Bloomberg Intelligence data. Suzuki dissolved its other Chinese venture, a 23-year-long partnership with Jiangxi Changhe Automobile Co., in June.
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