Hispania have failed to score a point so far since joining the grid
Hispania Racing have split from Italian chassis manufacturer Dallara after only six races on what the team say are "amicable terms".
Hispania have failed as yet to score a point in their maiden F1 campaign.
The Spanish team say that part of the reason is that since their arrival on the grid "no further chassis development was made by Dallara".
Hispania added that they intend to improve the chassis via their own development programme.
The team endured a troubled start to their debut season, with an internal takeover and subsequent name change from Campos Meta to Hispania in the build-up to the 2010 campaign.
And the Spanish marque only just made it on to the grid for the season-opener in Bahrain in March after a race against time to be ready.
A statement from the team said: "Hispania Racing, and Dallara Automobili, have agreed that what they have achieved in such a short period of time was more than could have been reasonably expected.
"The two parties wish each other the best of luck in all future endeavours."
Former Williams, BAR and Red Bull designer Geoff Willis is working with Hispania on a consultancy basis as they seek to develop a competitive package.