Jaguar announces move to Formula One

The Ford subsidiary announced at the Frankfurt Motor Show at noon BST that will take over the Stewart-Ford marque, which will now be known as Jaguar Racing.

Jaguar claims it decided to enter grand prix racing after Ford bought the Stewart-Ford team last June.

Jaguar chairman Dr Wolfgang Reitzle said, 'Jaguar has a long and distinguished record in motor sport.

'We have won Le Mans seven times and we have twice been world sports car champions.

'We have also won the Monte Carlo rally as well as countless other events. The next logical move is Formula One.'

Ford is hoping Jaguar's move to Formula One will encourage recognition of the brand throughout the world.

Jonathan Browning, managing director of Jaguar said, 'Our previous involvement in motor sport firmly convinced us that a successful racing programme brings major marketing benefits.

'Formula One is a massive global sport watched by many millions of motoring enthusiasts at the race circuits and on television.

'It can be a valuable showcase for Jaguar technology as we expand our product range.'

Neil Ressler, Ford vice president and chief technical officer, claims Jaguar's input in Formula One will begin immediately, with engineering teams contributing to the race programme now.

'I believe that Jaguar's production car engineers can learn a great deal from the racing team,' he added.

According to Ressler, technology transfer from F1 to Jaguar road cars is one of the main aims of the new programme.

'The need to solve problems quickly [in Formula One] breeds a nimble and innovative culture which we will be able to transfer to the road car development programmes.

'I regard the technology transfer as one of the biggest single benefits of Jaguar's decision to enter Formula One.'

Current Stewart-Ford team chief Jackie Stewart will continue for the time being as ceo of Jaguar Racing, with son Paul continuing in his role as chief operating officer at Jaguar Racing.

It is thought former F1 world champion Stewart will stay on for at least another year.

Engines for the new Formula One car will continue to be designed and supplied by Ford-owned Cosworth Racing.