Automotive Industry

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VW Agrees to Buy 19.9% of Suzuki to Challenge Toyota (Update1)

Bloomberg - 2 hours 30 minutes ago

Dec. 9 (Bloomberg) -- Volkswagen AG, Europe’s largest carmaker, agreed to buy a 19.9 percent stake in Suzuki Motor Corp. for 222.5 billion yen ($2.5 billion) and jointly develop vehicles for emerging markets to challenge global leader Toyota Motor Corp.