Mazda CEO Masamichi Kogai has said the company is ready to begin talks with Ford to sell Mazda’s stake in a joint venture that operates the Flat Rock plant in Michigan, Reuters reported.

The JV, known as AutoAlliance International, is owned 50/50 by the two automakers.

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Over the years, Mazda built a variety of models at the plant – mainly 626 and 626-based – plus the 6 successor which was a larger variant of the model sold in other markets, and with a V6 option. The latest NAFTA 6 is imported from Japan.

Ford’s Mustang coupe/convertible and Fusion sedan are currently the only cars built at Flat Rock though the Taurus will be added for 2015. Previous models include the Probe coupe which was exported widely, including right hand drive versions.

Kogai said Mazda booked a one-time extraordinary loss of JPY36.6bn (US$356.8m) during the fiscal year ended 31 March, 2014 in expectation of the hit it would take when it sells the AutoAlliance stake, Reuters noted.

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