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No tie-up with GM India yet: Suzuki
Rakesh Hari Pathak in Tokyo |
October 22, 2003 17:10 IST
Japanese carmaker Suzuki Motor Corp said on Wednesday that it had no immediate plans to tie-up with its global alliance partner, General Motors Corp for the Indian market.
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General Motors Asia Pacific president Frederick Henderson, however, expressed keeness for an alliance with SMC in India where the Japanese company holds just over 54 per cent stake in Maruti Udyog, the country's largest carmaker.
General Motors, the world's largest automaker, now has 20 per cent stake in Suzuki.
Industry watchers had speculated that there would be some synergy between Suzuki, General Motors and Fiat for the Indian market to cut costs and improve operational efficiencies.
General Motors also has about 20 per cent stake in Italian automaker Fiat SpA.
Both General Motors and Fiat have their separate subsidiaries in India.