Honda has announced that it will be ending its participation in Formula 1 in order to focus its research and development on fuel cells and battery EV technologies, according to the statement The company said “… it has decided to conclude its participation in the FIA*1 Formula One (F1) World Championship as a power unit supplier at the end of the 2021 season”
Honda said that it achieved its goal of earning victories with three wins last season and two so far in 2020.
It noted that as the automobile industry undergoes a once-in-one-hundred-years period of great transformation, Honda has decided to strive for the “realization of carbon neutrality by 2050.” This goal will be pursued as part of Honda’s environmental initiatives which is one of the top priorities of Honda as a mobility manufacturer.
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It is in pursuant of this initiative that It will funnel its corporate resources in R&D into the areas of future power unit and energy technologies, including fuel cell vehicle (FCV) and battery EV (BEV) technologies, which will be the core of carbon-free technologies.
However, “in order to fulfill the expectations of its fans, the car maker will continue to work together with Red Bull Racing and Scuderia AlphaTauri to continue competing and strive for more victories until the end of the 2021 season.