"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. "Ford will continue to focus on the Ford brand worldwide and deliver the products our customers really want and value."
"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," said Mazda Chairman, President and CEO Hisakazu Imaki. "We will continue our strategic relationship through our ongoing joint ventures with Ford, as well as the sharing of platforms and powertrains."
Earlier in May, we told you about a report concerning Mazda’s plans to discontinue production of its Mazda6 mid-size model at its joint-venture plant with Ford in Michigan. Today, new reports from both Japan and the U.S. are claiming that Mazda...
In his attempt to save Saab- again, and after having secured short-term cash of €30 million (US$44.6 million), Spyker Car N.V. CEO Victor Muller’s next move was to sign a strategic partnership with China’s Hawtai Motor Group. Under...
Even though the Ford Motor Company - Mazda Motor Corp. alliance was one of the most longstanding partnerships with many benefits for both parties, the Detroit automaker today announced plans to sell more than two-thirds of the shares it holds in the...
In times like this rumors are bound to flourish. Following last weekend's unconfirmed reports that cash-strapped Ford is considering selling the majority of its 33,4% stake in Mazda, Japan's Nikkei business daily reported today that the American...
In a weekend full of surprises and bewilderment for the American auto industry, right after reports of Chrysler holding merger talks with GM hit the web, Japanese media reported Saturday that Ford Motor Company was seriously considering selling its stake...