Toyota, the world’s largest automaker, is pulling out of Formula One racing to focus on its core business. The decision comes a day before the Japanese manufacturer is expected to announce its worst ever financial results. “Based on the current economic environment, we realize we have no choice but to withdraw from Formula One,” said...
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Lotus is returning to Formula One racing with a team run by the Malaysian government and a group of Malaysian investors. The Fédération Internationale de l’Automobile selected the Lotus F1 Team to replace the withdrawing BMW team in the 2010 season. Lotus will be the 13th team, restoring the brand as an F1 constructor for...
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Subaru recently announced it would not compete in the 2009 WRC Series due to economic concersn, however, new “no turbo” rules for 2011 would most likely have seen the Japanese automaker pull out anyway. The World Rally Championship’s governing body, the FIA World Motor Sport Council has just confirmed that as of 2011 competing vehicles...
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