Ford Sells a Portion of Its Stake in Mazda; Two Companies Will Continue Strategic Relationship - aftermarketNews
OE

Ford Sells a Portion of Its Stake in Mazda; Two Companies Will Continue Strategic Relationship

The divestiture will net Ford approximately $540 million.

DETROIT – As the major automakers continue their pleas for governmental assistance, Ford Motor Co. said it is selling a portion of its ownership stake in Mazda Motor Corp. The ratio of Ford’s ownership of Mazda stock has been reduced from 33.4 percent to just over 13 percent.

Under the new agreement, Ford and Mazda will continue their ongoing joint ventures, as well as the sharing of platforms and powertrains. Ford said its nearly 30-year relationship with Mazda has been and continues to be an effective way to utilize the resources of both organizations and maximize joint synergies.

The divestiture of Ford’s shares in Mazda will be accomplished both through the sale of shares to Mazda and the sale of shares to a group of Mazda’s strategic business partners; and will net Ford approximately $540 million.

You May Also Like

Tenneco to Supply Solutions for Rivian R1T and R1S EVs

Monroe Intelligent Suspension and Clevite Elastomer Products selected for Rivian’s light truck and SUV models.

Tenneco has been selected to provide intelligent suspension and anti-vibration performance materials solutions for U.S.-based electric-vehicle manufacturer Rivian Automotive. Tenneco's CVSA2/Kinetic H2 semi-active suspension technology part of the Monroe Intelligent Suspension product portfolio and NVH performance materials Clevite elastomers, will be featured in the all-electric Rivian R1T five-passenger pickup and R1S seven-passenger sport utility vehicle.

GM Signs Long-Term Nickel Supply Agreement with Vale Canada

This agreement secures for GM a supply of nickel sulfate from a U.S. free-trade partner to support its fast-growing EV production needs in North America.

AAM to Supply Axles for GM’s Next-Gen Pickup

The new vehicles will debut for model year 2023.

GM Donates New Engines to Auto Tech Training Schools

Ninety new engines were donated to 51 GM Automotive Service Education Program schools for hands-on training.

Tenneco Supplies Monroe Intelligent Suspension for Li Auto EV

CVSAe damper modules for the L9 will be manufactured in Tenneco’s plant in Changzhou, China.

Other Posts

J.D. Power: Brand Loyalty Strong Among New-vehicle Owners

Toyota ranks highest in two segments; BMW, Ford and Porsche rank highest in one segment each.

Lear to Supply Electrification Technologies to GM

Lear says it will supply key electrification technologies for the automaker’s Ultium global electric vehicle platform.

Jaguar Land Rover Taps Redline Detection for Tool Program

Redline’s Battery + Coolant Leak Detector is named an essential tool at Jaguar Land Rover’s locations in 160 countries.

PPG to Highlight Coatings for BEVs at NAIDAS, The Battery Show

PPG says its EV battery coatings enable safety, performance and manufacturability.