Honda to withdraw from Formula 1 after 2021 season

Honda has announced that it will not participate in the Formula One World Championship as a power unit supplier after the 2021 season ends. The carmaker, which was the first Japanese manufacturer to participate in Formula 1 in the 1960s and a regular name in the decades that followed, made the decision in order to concentrate corporate resources on research and development of new power units and energy technologies.

Why Honda is stopping
“At this time, Honda made a decision to further accelerate such initiatives and strive for the realization of carbon neutrality by 2050, in order to realize a sustainable society.  To this end, our current goal of electrifying two-thirds of our global automobile unit sales in 2030 will become a checkpoint we must pass before we get to the 2050 goal, and therefore we must further accelerate the introduction of our carbon-free technologies,” said Takahiro Hachigo, President, Representative Director and CEO of Honda Motor Co.

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