Volkswagen has moved a step closer to achieving its goal of 10m units in sales a year after forming a capital tie-up earlier on Wednesday with Suzuki Motor.
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The German carmaker has stated that its goal is to establish the world’s top auto alliance – surpassing the Toyota Motor group – by raising its group’s annual sales by 60% from the 2008 level.
The move to form an alliance with Suzuki is in line with its aggressive business strategy, analysts told Kyodo News.
Late last month, VW said it would EUR25.8bn in developing new vehicles and facilities between 2010 and 2012, while other world automakers are moving to trim such investments amid slumping sales.
On Monday it bought a 49.9% stake in Porsche AG.
The company has a history of pursuing aggressive strategies such as entering the Chinese auto market by forming a joint venture with a Chinese company in the mid-1980s when most global carmakers were still hesitant to do so, Kyodo noted.
