|Honda and British American Racing to Team up in F1 Racing from Next Year|
|Tokyo, May 21, 1999 --- Honda Motor Co., Ltd. (Honda) today announced that it has signed an agreement with the Formula One (F1) racing team British American Racing (BAR) to participate jointly in the F1 Grand Prix circuit as British American Racing - Honda, starting next year.
The objective of the new partnership is to push the limits of team competitiveness so that it will be capable of winning championships as soon as possible.
Under the agreement, Honda will develop and manufacture F1 engines and supply them to BAR. Honda and BAR will both be involved in racing car chassis development, with Honda assuming responsibilities for development work in new technological fields, including chassis management systems.
Honda's participation in the construction of highly competitive F1 machines will include sending a group of engineers to BAR from Honda R&D Co., Ltd., Honda's wholly owned subsidiary.
Since March of 1998, Honda had been studying various F1 racing re-entry factors, including team structure, timing of participation and technical evaluation of prototype machines, while also considering both the current and future business environment.
As a result of these studies, it was decided that an ideal partnership could be created by:
Through this joint project, Honda will be entering its third era of F1 participation, more than seven years since its last race in its second era (1983-1992) and over 35 years after the very first race that began the first era (1964-1968).
Honda believes this project will nurture the capabilities of its engineers and develop advanced technologies, including those for chassis design and construction while meeting the expectations of its motorsports fans around the world. This time, Honda's F1 challenge will not be limited to simply supplying engines, but will be a more comprehensive effort, including total machine development, in conjunction with BAR.
Honda will also continue to extend technical support to Mugen Co., Ltd., in line with F1 participation plans of both Mugen and Jordan Grand Prix Limited.