General Motors, the largest single shareholder in Japanese auto major Suzuki, will not influence Maruti Udyog's operations. Osamu Suzuki, chairman & CEO, Suzuki Motor Corporation, said: "Maruti is controlled by Suzuki and will continue to be managed by Suzuki in India."
Responding to queries on the future control of Maruti, Suzuki said: "General Motors has a 20 per cent stake in Suzuki, Japan. But, so far as General Motors India is concerned, it is not related to Maruti." However, he added, "If General Motors proposes something that benefits Suzuki, we may consider it."
Suzuki said Suzuki Motor will make Maruti its research & development centre for cars outside Japan. The corporation is also looking to make Maruti a hub for exporting small cars to Europe and other parts of the world.
Even as Suzuki Motor Corporation is planning to re-enter the two-wheeler segment in India, Suzuki said the company's two-wheeler venture will be independent of Maruti. Maruti became a Suzuki Motor subsidiary in the previous fiscal, after it paid the Indian government Rs 1000 crore (Rs 10 billion) as control premium as part of the company's divestment.
Currently, Suzuki's stake in Maruti stands at over 54 per cent. The government has an over 45 per cent stake in Maruti, which will come down to around 20 per cent following Maruti's initial public offering.
The government is expected to exit Maruti by offloading its balance stake in the company over the next two years.