Ford Motor Co and Toyota Motor Corp. have ended their two-year long partnership to create hybrid pickup trucks and SUVs.

Ford also announced it will develop its own rear-wheel drive hybrid system for SUVs and trucks like its popular F-150 series, which will be available by 2020.

"Both parties brought some significant insight to their portion of the project," said Ford's global product chief Raj Nair according to Reuters.

He added that both companies were "pleased with the ability to progress separately."

Ford and Toyota will still work together to develop "next-generation" technology for on-board phone, navigation and entertainment systems according to a Ford press statement.

The two automakers announced their partnership back in August 2011, saying that they would work towards the development of larger hybrid vehicles capable of meeting future U.S. fuel economy standards.

Toyota has dominated the global hybrid market since first introducing its Prius sedan in 1997.

The automaker said it has accounted for approximately two-thirds of the U.S. hybrid market during the first half of 2013.

Ford has made progress in the U.S. hybrid market however, thanks to the demand for its C-Max and Fusion vehicles.

"We know what it takes to build world-class hybrids, and we now will build and leverage that expertise in-house," said Nair in a press statement.

Ford represented 15 percent of the U.S. hybrid market during the first six months of 2013 according to Reuters. This is a 3 percent increase when compared to this time last year.

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