Amid reports that the joint venture in China will be dissolved, representatives of Ford Motor Co. and Mazda Motor Corp. came out to say that these speculations are false.

Last Sunday, Japan’s Nikkei business daily reported that the three-way tie-up of these two companies and China’s Chongqing Changan Automobile Co. will end by 2012. Mazda spokeswoman Christine He told Reuters that there is no current plan to end the joint venture as it has a “good relationship” with both its partners. As Ford owns about 11% of Mazda, Ford’s spokesman Teddy Liu also gave a statement, dismissing the report as mere “speculation.” A representative from Changan described the relationship of three partners to be a good one; he also denied that there had been discussions of a possible breakup. It is believed that Mazda’s ties with Ford have weakened since Ford reduced its controlling one-third stake in Mazda to 13% in 2008 to free up cash.

[via autonews - sub. required]

Tags: car news, Ford, ford mazda china venture, Mazda

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