Ford Sells Portion of Mazda Ownership to... Mazda
In line with Ford’s plan to strengthen its balance sheet and ensure it has the resources to implement its product-led transformation plan focusing on the Ford brand worldwide.
With Ford and Mazda's successful joint ventures over the last 30 years, the new agreement triggered by the stock sale should not influence their current or future relationships too much.Ford and Mazda say that they will continue to utilize the resources of one another and thus the sharing of platforms and powertrain.
“The sale of Mazda shares by our partner, Ford, will not result in any change in Mazda’s strategic direction and we will continue to accelerate our product-led brand improvement and cost innovation initiatives,” says Mazda’s Chairman, President and CEO, Hisakazun Imaki.
“We will continue our strategic relationship through our ongoing joint ventures with Ford, as well as the sharing of platforms and powertrain," he added.
“This agreement allows Ford to raise capital that will help fund our product-led transformation, and at the same time, allows Ford and Mazda to continue our successful strategic relationship in the best interest of both companies,” said Ford President and CEO Alan Mulally.