Ford is lowering its stake in Mazda. The Dearborn-based automaker announcing Thursday that it will reduce its ownership of Mazda to 3.5 percent, down from 11 percent.
Ford says the reduction will allow the company to increase flexibility to pursue growth in key emerging markets. Even with the change, Ford said in a statement that both automakers “will continue to cooperate in areas of mutual benefits such as key joint ventures and exchange of technology information.”
Ford and Mazda have been partners for more than 30 years.
(Copyright, 2010. WWJ Newsradio 950, All Rights Reserved. The Associated Press contributed to this report.)