Ford Performance Vehicles (more commonly knows as FPV), which was originally established as a joint venture between Prodrive (51%) and Ford Australia (49%), will be absorbed by the Blue Oval’s local arm.
The announcement was made on Thursday with Ford and FPV, the maker of cars like the Falcon-based GT RSPEC and F6 high performance sedans, expected to complete negotiations shortly.
“As a result of the business review, Prodrive has made the decision to exit the performance car market at the end of 2012,” said Prodrive Managing Director Bryan Mears. “We have enjoyed great success through our partnership with Ford Australia and look forward to watching the FPV brand continue to thrive in the future.”
The Blue Oval’s Australian division said that under the agreement, it will purchase all assets of FPV and take responsibility for all future activities from the end of 2012.
The company added that it will take over the development programs, the manufacture of FPV engines and vehicles, and marketing of the FPV brand.
“We recognise the passion and dedication of FPV enthusiasts and their desire to see Ford high-performance vehicles available in the market,” said Ford Australia President and CEO Bob Graziano.
“Although this segment of the market is relatively niche, it is an important part of Ford’s performance history and DNA. Both partners have worked hard to ensure the FPV brand can continue to thrive in Australia post the change to our current arrangements,” he added.
Ford said that it will be moving production of FPV powerplants to its own Geelong engine plant, while full vehicle assembly will take place at Ford’s Campbellfield plant.
As a result, thirty-two jobs will be lost at Ford’s performance car division by the end of the year.
According to Graziano, nothing will change under the agreement for customers of the FPV brand.
“Our current and future customers should experience little, if any, change to the way they interact with the FPV brand,” said Graziano. “We look forward to continue providing them with the outstanding performance and specialist service they have enjoyed to date.”
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