(MENAFN- IANS) Oyama (Japan), Oct 11 (IANS) Japanese car maker Toyota have confirmed their return to Formula 1 for the first time since 2009 after signing a technical partnership with the Haas F1 Team that begins immediately.
Under the new multi-year agreement both parties will share expertise and knowledge, as well as resources – with Toyota Gazoo Racing providing design, technical and manufacturing services while Haas F1 Team will offer technical expertise and commercial benefits in return.
"With an objective to advance Haas F1 Team's development and competitive element within Formula 1, Toyota Gazoo Racing will further develop its own knowledge and skills in a variety of areas through its involvement with the team competing at the leading edge of global motorsport," the Formula 1 team said in a statement.
Toyota spent eight seasons in Formula 1 as a works team and engine supplier, scoring 13 podiums and achieving a best finish of fourth in the constructors' championship.
"I'm hugely excited that MoneyGram Haas F1 Team and Toyota Gazoo Racing have come together to enter into this technical partnership,” stated Ayao Komatsu, Team Principal of Haas F1 Team.
"To have a world leader in the automotive sector support and work alongside our organization, while seeking to develop and accelerate their own technical and engineering expertise – it's simply a partnership with obvious benefits on both sides. The ability to tap into the resources and knowledge base available at Toyota Gazoo Racing, while benefiting from their technical and manufacturing processes, will be instrumental in our own development and our clear desire to further increase our competitiveness in Formula 1. In return we offer a platform for Toyota Gazoo Racing to fully utilize and subsequently advance their in-house engineering capabilities," he added.
President of Gazoo Racing Company Tomoya Takahashi added, "We are pleased to announce that MoneyGram Haas F1 Team and Toyota Gazoo Racing have concluded a basic agreement to enter a technical partnership such as Haas vehicle development.
"We would like to express our gratitude to Mr. Gene Haas, Mr. Ayao Komatsu, Mr. Stefano Domenicali (CEO – Formula 1), Mr. Fred Vasseur (Team Principal – Scuderia Ferrari), and all our existing partners of the team for their exceptional cooperation and understanding in this collaboration.
"By competing alongside MoneyGram Haas F1 Team at the pinnacle of motorsports, we aim to cultivate drivers, engineers, and mechanics while strengthening the capabilities of MoneyGram Haas F1 Team and Toyota Gazoo Racing, and we desire to contribute to motorsports and the automotive industry."
The deal was announced at Toyota-owned Fuji International Speedway on Friday and will see Toyota Gazoo Racing branding visible on Nico Hulkenberg and Kevin Magnussen's Haas cars starting from next weekend's United States Grand Prix in Austin.
Haas are currently seventh in the constructors' championship, just three points adrift of RB in the fight for P6.
MENAFN11102024000231011071ID1108769792
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.