VW-Suzuki plans to carry out hybrid car R&D in India

Days after agreeing to buy a stake in Japan’s Suzuki Motor Corp. for US$2.5 billion, German car giant Volkswagen AG has said the two companies are looking at jointly working on hybrid and electric car projects. Jochem Heizmann, Volkswagen board member and responsible for production, said, “It’s too early to give out concrete details of our plans, but what is definite are common projects on hybrids and electro mobile cars.” Suzuki’s stake sale to VW is expected by January 2010. Suzuki, in turn, intends to invest up to half of the amount received from Volkswagen back into the German major. (December 14, 2009)