Suzuki has send a "Rebuttal Letter" to Volkswagen AG and has asked VW to withdraw its claim that Suzuki has voilated the partnership deal. Suzuki has requested VW AG to revoke its notice claiming that Suzuki is in breach of agreement.
Suzuki has given VW AG a deadline of 30th September 2011 to revoke its notice as the notice is harming Suzuki's reputation in the market.
The two companies entered into a strategic alliance in December 2009 with VW buying 19.9 percent stake in Suzuki and Suzuki in turn buying 1.5 percent in the German manufacturer. "Suzuki never breached the agreement" said its chairman Osamu Suzuki. "The partnership did not bring out the benefits that we thought but has become a 'ball and chain' for our managerial independence.
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