Toyota Will Not Sell F1 Operations

Toyota rejected the idea of selling their Cologne headquarters following their withdrawal from Formula One. The Japanese car maker will keep their factory open and running in the future, as they are planning to launch new motorsport programmes in lower racing categories.

In the same press release that announced their immediate quit from the Great Circle, Toyota revealed that it “will (...) actively contribute to further development of motor sports by supporting grassroots races and planning events in which it is easy for people to participate.”

Also, when asked by the reporters what Toyota's plans for the cologne factory are and if they are planning to sell it, the F1 team president John Howett revealed that the issue has “already been discussed and rejected" by the Toyota Motor Corporation.

Maybe these ideas can be reopened but, at the moment, it would appear not,” Howett told the Times.

When they left Formula One a year ago, Honda struggled to sell their F1 operations at Brackley and eventually proceeded to a symbolic $1 management buyout to former team principal Ross Brawn. BMW also decided to get rid of their F1 operations at Hinwil, as they eventually sold the Swiss factory to Qadbak consortium.

As far as Toyota are concerned, the Japanese company is likely to shed approximately 550 jobs in the upcoming months. The rumor was launched in the media by one of the employees at Cologne, who revealed that only 150 jobs will be kept by Toyota for their soon-to-be-planned operations from 2010 onwards.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories