News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 14 years ago
Home  » Sports » Toyota severs links with HRT F1 team

Toyota severs links with HRT F1 team

November 16, 2010 09:20 IST
Get Rediff News in your Inbox:

Toyota have ended a cooperation agreement with the struggling HRT Formula One team but are still seeking payment, the Japanese company said on Monday.

"TMG (Toyota Motorsport) regrets that HRT has not met its contractual payment obligations and will pursue all available options to reach a satisfactory conclusion to this matter," Toyota said in a statement.

Cologne-based Toyota pulled out of Formula One at the end of the 2009 season but had already designed a car for 2010 that could provide a basis for next year.

Spanish-owned HRT, or Hispania, have severed their ties with chassis builder Dallara and had been exploring a technical partnership.

They have since announced a deal with Williams to use their gearboxes.

A day after the season-ending Abu Dhabi Grand Prix, Toyota said that "all cooperation with Hispania Racing F1 Team has been terminated and will not resume.

"TMG retains all intellectual property rights to its current F1 car and is completely free to pursue other projects and support new customers for its high-performance engineering services."

Get Rediff News in your Inbox:
Source: REUTERS
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

India In Australia 2024-2025