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Suzuki Forms Joint Venture for Developing Fuel Cell Technology

Suzuki announced it is partnering with U.K.-based Intelligent Energy Holdings to form a joint venture for developing fuel cell systems. The new joint venture, SMILE FC System Corporation, will work on developing fuel cell systems for both motorcycles and automobiles. Intelligent Energy, with its fuel cell expertise and Suzuki, with its mass production capabilities, will each have 50% share of SMILE FC.

Suzuki Provides Aid Following Chinese Earthquake

Suzuki is providing 10 million yen (US$100,500) in aid to the Red Cross Society to provide support for those affected by the April 20 earthquake in China’s Sichuan province. Suzuki‘s pledge is in addition to 1 million RMB (US$161,000) donated by Chongqing Changan Suzuki Automobile Co., a Suzuki joint venture with China’s Changan Group. The region in southwestern China was hit by a major tremor at about 8 o’clock in the morning, local time.

Suzuki Reports Q1 2011-2012 Results

Suzuki’s motorcycle business saw a profit for the first time in 11 quarters despite selling 21.0% fewer motorcycles. In the quarter ended June 30, 2011, Suzuki saw an operating income of 300 million yen (US$3.8 million), compared to a loss of 1.8 billion yen (US$22.9 million) reported in the same quarter of 2010. Suzuki netted 75.4 billion yen (US$961.5 million) in motorcycle sales over the quarter, a year-on-year increase of 8.0% from 69.8 billion yen (US$890.0 million) in 2010.