Like the other Detroit automakers, Ford is strapped for cash and looking for ways to free up a little extra capital. Ford has already increased its cash reserves through the sale of Jaguar and Land Rover , which prompted rumors that the Blue Oval was looking to dish its shares of Mazda. But per one Mazda exec, those rumors are completely unfounded.
According to Mazda CEO Hisakazu Imaki, there are no current plans for Ford to sell all or even part of its 33 percent stake in the Japanese automaker. “We’ve had a relationship with Ford since the 1970s,” Imaki told Reuters. “Our ties are so close that you can’t tell how much of the company is Mazda and how much of it is Ford. We don’t expect that there will be any change in this relationship.”
Mazda and Ford – along with Ford’s Volvo – do share a number of components, which would make a break-up all the more difficult. However, several Japanese news outlets are still reporting that Ford is planning to give up at least part of its Mazda ownership, with a deal possible by next month.
Another possibility is that Mazda could buy back about a third of Ford’s stake, which would be valued at around $400 million. Ford has yet to chime in on the topic, but we expect a response from Dearborn now that Mazda has spoken out on the subject.
