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Update! Ford To Sell Mazda?

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On: Wed, Oct 20, 2010 at 2:40PM | By: Sherry Christiansen

Update! Ford To Sell Mazda?

Takashi Yamanouchi, Mazda Motor Corp. CEO announced that the Japanese automaker will not be partnering with any new automotive companies, in spite of recent news reports that Ford would be selling its remaining interest in Mazda. Though earlier reports suggested a new manufacturing partner, Mazda and Ford will remain attached at the hip for the foreseeable future.

"We have an agreement to continue our strategic partnership with Ford. Therefore, we are not thinking at all of forming an alliance with companies other than Ford," Yamanouchi told a news conference on Wednesday.

"In any case, under any circumstances we believe it is important to maintain the Mazda brand." The official statement from CEO Yamanouchi is that Mazda’s business partnership with Ford is intact in spite of the previous automotive news report posted on the Auto Shopper that stated Ford Motor Company would be selling its 11% stake in Mazda, (which has a value of over $500 million).

An unidentified source had reported last week that Ford may sell its stock in Mazda by the end of this year, but no statement was ever confirmed by Ford or Mazda.

Although Ford and Mazda have had a long history of partnership in automotive production, more recently the two companies have “gone their separate ways,” according to a recent news article posted on auto news.com, Mazda has asked Toyota Motor Company to help design its first hybrid vehicle.

As far as confirmation of the rumor that Ford and Mazda will split; stay tuned to breaking news from the Auto Shopper to find out.

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