Aston Martin Announces Return to Formula One in 2020 – Racing Point To Be Taken Over

0
34
aston-martin-formula1-nykdaily-arushisana

Aston Martin will be returning to Formula next year as a full fledged team to take on the likes of Ferrari and Mercedes.

After a long wait of 61 years, Aston Martin has announced that it will return to motorsport racing with a proper factory Formula 1 team. They would become the 6th car manufacturer to have a factory-backed team in Formula 1 by 2021.

Aston Martin will not enter as a brand new 11th team. The F1 team Racing Point will be rebranded as Aston Martin F1 Team after the 2020 season.

Racing Point is owned by Lawrence Stroll, father of Canadian F1 driver Lance Stroll. Lawrence Stroll recently acquired a significant stake at Aston Martin, rescuing the company from financial trouble. Now with Stroll owning Aston Martin along with Racing Point, the venture has been given the go-signal and Aston Martin is ready to vroom into Formula 1 next year.

It is unclear as of now if Aston Martin will manufacture its own engine as it did recently announce a hybrid V6 for its regular road car, the Valhalla. But since Racing Point already uses the Mercedes-AMG powertrain, and Daimler already in a tie up with Aston Martin, there is a chance that the Aston Martin F1 Team could continue to use the existing systems.

Racing Point on its official site stated “On Monday 30th of March, the shareholders of Aston Martin Lagonda approved a £536m fundraising, underpinned by an injection of £260m of new capital from Yew Tree Consortium – a group of investors led by Lawrence Stroll. As part of this investment, Mr Stroll will become Executive Chairman of Aston Martin and Aston Martin will create its own works F1 racing team. There is no better way to build the Aston Martin brand globally, and to engage with its customer base than to have a successful works team in Formula 1.”

Lawrence Stroll stated “Aston Martin has been competing very successfully in various classes of motorsport throughout its history, but we now have an opportunity to create a works team in Formula 1. The global spotlight of Formula 1 is second to none and we will leverage this reach to showcase the Aston Martin brand in our key markets.” He added “With the Aston name comes more pressure and expectation. We will need to be competitive from the outset. But I have no doubt the team at Silverstone will rise to the challenge and do the Aston Martin name proud.”

The new Aston Martin F1 Team will design as well as engineer their car and the innovations will be shared with the technical teams at Gaydon for further enhancement of Aston Martin road cars – specifically, their upcoming range of mid-engined model cars.

Previous articleFood Prices Drop All Over The World As COVID-19 Takes a Toll
Next articleIndia COVID-19 Testing Kits to Increase Amidst MyLab-Serum Deal
Arushi Sana
Arushi Sana is the Co-Founder of Santerra Living, a bio-pellet factory that makes a renewable form of eco-coal and Co-Founder of NYK Daily, a global news platform. She was awarded the Times Power Women of the Year 2022, Times Digital Entrepreneur of the Year 2023, Silicon India's Top 10 Women Owned Startups of Hyderabad 2023 and IHW Council Climate Health Influencer 2024. Arushi is also a speaker for Sustainability and Entrepreneurship at various forms like the World Bank, UN International Solar Alliance and Universities, and was also invited to the UN COP28 UAE Climate Conference. She is a Sustainability Consultant for organisations looking to reduce their carbon footprint and also works with brands on social media to help them carve a presence in that niche. She holds a Degree in Computer Science Engineering from VIT University and a Diploma in Marketing Analytics from IIM Nagpur. She has previously worked in Ernst & Young and Deloitte as a Forensic Data Analyst. Arushi is a writer, political researcher, a social worker, a farmer and a singer with an interest in languages. Travel and nature are the biggest spiritual getaways for her, and she aims to develop a global community of knowledge and journalism par excellence through this News Platform.

Was it worth reading? Let us know.