Motor racing: Honda plans return to Formula One

HONDA said yesterday it had decided to return to Formula One racing with a comprehensive team using its own engine, chassis and management.

Honda has begun a feasibility study on its return to Formula One after withdrawing from the sport in late 1992. "It was the strong determination of our young engineers that prompted Honda to start its serious consideration of returning to F1 racing," Nobuhiko Kawamoto, Honda's president and chief executive officer, said.

Kawamoto added that the timing of the return would be finalised by the end of this year. "The team structure, management and actual timing of the return to racing have still to be fixed," he said. "We decided to return to Formula One by not only making engines, but also by developing and making car chassis and handling the management of our own racing team."

Honda's approach will be similar to that of Ferrari, which manages its own team and develops and makes its own engines and chassis. Other major car manufacturers now in Formula One supply engines to independent racing teams.

Honda took part in Formula One racing as a team between 1964 and 1968, winning two victories out of 35 races. The company was involved in Formula One from 1983 to 1992 as an engine supplier, winning 69 times in 151 races.