GM and VW Working out $1 Billion Parts Deal

02/27/97

Reuters reports that GM's Delphi Automotive Systems has announced that it is working closely with German automaker Volkswagen to pin down the details of a $1 billion parts deal that arose from GM's U.S. civil lawsuit against VW. In January VW agreed to buy $1 billion worth of auto parts from GM as part of its out-of-court settlement of the U.S. automaker's industrial espionage suit against VW.

J.T. Battenberg, GM's executive vice president in charge of the Delphi parts unit said he recently met with VW Chairman Ferdinand Piech. He characterized the event as a "very good meeting."

Paul Dever -- The Auto Channel

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