|Friday, 15 September 2017, 18:55 HKT/SGT|
TOKYO, Sept 15, 2017 - (JCN Newswire) - Honda and McLaren announced that a decision has been reached to discontinue their partnership for the FIA(1) Formula One World Championship (F1) at the end of the 2017 season. The partnership has been ongoing since the team returned to F1 racing in 2015 and will continue to compete in the remaining races through the end of the 2017 season.
Takahiro Hachigo, President & Representative Director of Honda Motor Co., Ltd.
"It is unfortunate that we must part ways with McLaren before fulfilling our ambitions, however, we made the decision with a belief that this is the best course of action for each other's future. On behalf of Honda, I would like to express my sincere gratitude to fans who have been very supportive of the team as well as the drivers, team members and everyone involved who shared with us in the joys and disappointments since we began preparing for our return to F1 in 2015. Honda will continue the fight together with McLaren all the way to the end of the 2017 season, and then continue its F1 racing activities in 2018 and beyond."
Shaikh Mohammed bin Essa Al Khalifa, Executive Chairman and Executive Committee principal, McLaren Group
"Honda is a great company which, like McLaren, is in Formula 1 to win. Although our partnership has not produced the desired success, that does not diminish the great history our two companies have enjoyed together, nor our continued efforts to achieve success in Formula 1. At this point in time, it is in the best interests of both companies that we pursue our racing ambitions separately."
Zak Brown, Executive Director, McLaren Technology Group
"There has never been any doubt over Honda's commitment and energy to the mission of success in Formula 1. They are proven winners and innovators. For a combination of reasons our partnership has not flourished as any of us would have wished. It is certainly not for the want of effort on the part of either Honda or McLaren but the time has come to move ahead in different directions. As fellow racers, we hope to see the great name of Honda get back to the top - our sport is better for their involvement. I know this view is shared by everyone in the sport."
(1) Federation Internationale de l'Automobile
Honda Motor Co., Ltd. (TSE:7267/NYSE:HMC/LSE:HNDA) is one of the leading manufacturers of automobiles and power products and the largest manufacture of motorcycles in the world. Honda has always sought to provide genuine satisfaction to people worldwide. The result is more than 120 manufacturing facilities in 30 countries worldwide, producing a wide range of products, including motorcycles, ATVs, generators, marine engines, lawn and garden equipment and automobiles that bring the company into contact with over 19 million customers annually. For more information, please visit http://world.honda.com.
Sept 15, 2017 18:55 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
Copyright © 2017 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.