Suzuki, GM, Daewoo may tie up

Suzuki, GM, Daewoo may tie up

TOKYO: Japanese automaker Suzuki Motor Corp. said Wednesday it may invest in a South Korean company to be set up by U.S. giant General Motors Corp. and debt-stricken Daewoo Motor Co.

"We are considering investing in their company," Suzuki spokesman Takeaki Nukii said.

"The new company will mainly deal with the operations of Daewoo Motor and the investment is part of our efforts to expand our business in Asia," he added, without giving further details.

The business daily Nihon Keizai Shimbun said Wednesday Suzuki would buy a roughly 15 percent stake in the GM-Daewoo company for 10 to 15 billion yen (US$81 to $121 billion).

The U.S. auto giant owns a 20 percent stake in Suzuki. It took over Daewoo Motor in April. -- AFP