Suzuki selling 50% stakes to General Motors
It has been reported that general motors and Suzuki are ending their CAMI joint assembly operation in Canada with that Suzuki is selling its 50% stakes to the GM. The official announcement for the timings and pricing of the sale was not given by any of the company.
According to many news media Suzuki has closed production at Ingersoll, Ontario, plant last summer and they even discontinued the sale of XL7 SUV that was manufactured in that plant and now GM has announced in the last month that it would invest $85.1 million in the recreation of that plant and they have the ambition to raise the production to 40,000 vehicles.
While talking about Suzuki’s a spokes man Hideki Taguchi said that “We have no model being produced there and no plans to introduce one,” and also said that “So the position of CAMI has gone down” .As GM is now days striving to raise their company in the international markets and these steps will be helpful for the fulfillment of their ambitions.
As according to Gm’s Canada chairman “Bringing CAMI completely into the GM family is a strong vote of confidence in the people there and builds on the recent positive news at the plant since the highly successful launch of the Chevrolet Equinox and GMC Terrain”. So hopefully this cooperation among the two companies will be in best regards of both of them and we wish them bets of luck.