Toyota Returns to F1
Japanese automotive giant Toyota Motor announced its return to Formula One (F1) for the first time since 2009, through a partnership with the U.S.-based MoneyGram Haas F1 Team for vehicle development.
Toyota, through its motorsports division Toyota Gazoo Racing (TGR), will contribute to the aerodynamic development of Haas’ racing cars under a “multi-year technical partnership agreement,” according to a statement published on Toyota’s website today.
“We will strive to build better cars by leveraging our motorsports expertise,” said Toyota Motor President Akio Toyoda, adding that “to begin with,” the focus will be on “the development of human resources.”
As part of the agreement, Toyota’s drivers, engineers, and mechanics will participate in testing with the only U.S. team competing in F1, gaining experience in managing driving data and applying what they learn to vehicle production.
With this, Toyota aims to “perfect the three essential elements of car manufacturing: people, the development process, and the product.”
“TGR seeks to further strengthen our people and learn from the development process of MoneyGram Haas F1 Team, which is one of the team’s strengths in competition, to accelerate the creation of increasingly better cars built for motorsports,” the company statement reads.
Toyota’s corporate logo will appear on Haas’ vehicles starting with the next F1 race in the United States, according to the company.
The Japanese automaker first entered the F1 World Championship in 2002 and withdrew seven years later, following the 2009 season, due to a business downturn caused by the 2008 global financial crisis.
Toyota Motor is the world’s largest automaker by volume and the highest-valued company on the Tokyo Stock Exchange.