TOKYO (Reuters) -- Suzuki denied media reports that it and Volkswagen Group have resumed talks on how to resolve a dispute about a partnership deal.
"There have been various reports, but there absolutely are no such facts, so there is nothing I can talk about on this topic," Executive Vice President Toshihiro Suzuki told a news conference today after Suzuki reported quarterly earnings.
Suzuki filed for international arbitration in 2011 in a bitter dispute with Volkswagen after the German automaker refused to sell back its 20 percent stake in the Japanese firm.
VW paid 1.7 billion euros ($2.3 billion) for the stake in January 2009 in a deal that was supposed to give VW a strong foothold in the growing Indian market and Suzuki access to fuel-saving technologies.
The alliance went sour when VW said Suzuki had broken their contract by deciding to procure diesel engines from Fiat. Suzuki accused VW of withholding hybrid powertrain technology it promised to share and demanded VW return its stake. Volkswagen refused.