Birtish racing car manufacturer, Lola, is considering re-entering Formula 1 next year after 12 years aways from the sport after confirming that it has committed to a full technical, operational and financial evaulation of the project.
The Huntingdon-based company says it decided on its plans following the FIA's announcement that it would introduce cost-capping to Formula 1, in March.
"The announcement that teams may opt for a prudent, financially responsible 'cost capped' regime from 2010 has resulted in us deciding to fully evaluate the opportunity to develop a car to compete in the FIA Formula One World Championship," said Lola Group executive chairman Martin Birrane.
"Providing world-class engineering excellence, offering high quality solutions governed by a tightly controlled financial regime has been part of Lola's DNA over the last decade.
"The current necessity for F1to adopt a responsible approach in times of economic uncertainty has created the ideal conditions for us to consider developing a car for the world championship.
"Lola possesses the technical resources, capability and know-how to develop cars capable of competing at the very highest levels of international motor sport, including F1. We are therefore embracing the WMSC's timely announcements and assessing a relevant programme for F1 with a view to making a formal entry in the coming weeks."
http://www.autosport.com/news/report.php/id/74698
The Huntingdon-based company says it decided on its plans following the FIA's announcement that it would introduce cost-capping to Formula 1, in March.
"The announcement that teams may opt for a prudent, financially responsible 'cost capped' regime from 2010 has resulted in us deciding to fully evaluate the opportunity to develop a car to compete in the FIA Formula One World Championship," said Lola Group executive chairman Martin Birrane.
"Providing world-class engineering excellence, offering high quality solutions governed by a tightly controlled financial regime has been part of Lola's DNA over the last decade.
"The current necessity for F1to adopt a responsible approach in times of economic uncertainty has created the ideal conditions for us to consider developing a car for the world championship.
"Lola possesses the technical resources, capability and know-how to develop cars capable of competing at the very highest levels of international motor sport, including F1. We are therefore embracing the WMSC's timely announcements and assessing a relevant programme for F1 with a view to making a formal entry in the coming weeks."
http://www.autosport.com/news/report.php/id/74698
