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Suzuki exits China after dissolving partnership with Changan
Suzuki Motor is pulling out of China after dissolving its last remaining automaking partnership in the world’s biggest car market.
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Activities in an automotive assembly plant for Suzuki-brand cars in Bekasi, West Java, in this file photo. BMI Research puts Indonesia in its to-watch list as the market of 250 million population is still widely untouched, hence giving rooms for rapid growth in several sectors that include manufacturing. (Kompas/Totok Wijayanto)
S
uzuki Motor is pulling out of China after dissolving its last remaining automaking partnership in the world’s biggest car market.
Suzuki agreed to transfer the 50 percent stake it holds in Changan Suzuki to Chongqing Changan Automobile as soon as legal proceedings are completed, the Japanese automaker said in a statement Tuesday.
Suzuki will continue licensing of production and sales of Suzuki models to Changan Suzuki. Sales of the Suzuki Changan joint venture declined 27 percent last year, according to Bloomberg Intelligence data.
Suzuki dissolved its other Chinese venture, a 23-year-long partnership with Jiangxi Changhe Automobile, in June.
