Ford is cutting its stake in Mazda and will end joint vehicle development with the Japanese brand.
The move comes as part of the US firm's global 'One Ford' plan to develop vehicles to appeal to all worldwide markets. Ford's stake in Mazda is to be cut from 11 per cent to 3.5 per cent, dropping it from being Mazda's largest stakeholder to its fourth-largest.
The pair will continue production tie-ups in Japan and the US and Mazda CEO Takashi Yamanouchi said the pair will also work together on "ventures, projects and exchanges of technology information".
But vehicle development between the pair will end; recent projects between the two have included the development of the current Fiesta/2 superminis. The firms have already said their joint venture of developing and producing vehicles for China will come to an end.
Ford originally cut its stake in Mazda to 13 per cent at the height of the global financial crisis in November 2008 to raise funds to help it stave off Chapter 11 bankruptcy protection.
Yamanouchi said that Mazda was not considering a new tie-up with another car maker, but did say the firm was open to licencing its technology to other makers.
While Ford concentrates on its One Ford plan, Mazda is poised to completely reinvent itself by launching a new multi-purpose platform, a new chassis and suspension set-up, an advanced six-speed automatic ’box and a pair of uniquely engineered ‘Sky’ petrol and diesel engines. These should be among the most fuel-efficient engines on sale.