GM engines to continue

Ford announced that it is to sell the Jaguar Formula 1 team and Cosworth on Friday, which supplies Chevrolet-badged engines to four teams in the Indy Racing League.

"We fully expect this relationship to continue unaffected throughout the duration of our agreement," read a statement released by GM Racing spokesman Rick Vogelin.

General Motors turned to Cosworth last season after the Chevy teams found the new generation of the in-house Indy V8 engines were no match for Honda and Toyota. But the Cosworth was instantly successful, with Sam Hornish Jr. winning at Kentucky in the first race in which all Chevy teams had the new engine.

However, Chevrolet teams have struggled again this season, with no drivers in the top 10 in the points and just one podium finish - by Red Bull Cheever Racing's Alex Barron at Texas in June - in 14 races so far this season.

The announcement had a ripple effect in Indianapolis, where many IRL and Champ Car World Series teams are based. Cosworth also supplies Ford-badged engines to the Champ Car World Series, as well as V10 engines for the Jordan and Minardi F1 teams.

"We intend that Cosworth is kept as a going concern," said Richard Parry-Jones, Ford's chief technical officer. "Since we intend for it to be profitable, it must have contracts and sources of revenue. The American racing series are important sources of revenue, so we will continue to negotiate with the North American entities to find a mutually acceptable solution that fits the model for Cosworth Racing going forward."

Likewise, GM Racing officials indicated in their statement that they don't expect anything to change with the IRL program.

"General Motors has had a business relationship with Cosworth for more than 30 years, and during this period Cosworth has been owned by a number of entities," the statement read. "GM Racing currently has a technology partnership with Cosworth Racing focused on the continuous development of the Chevy Indy V8 racing engine."

Vogelin also said GM is not considering a purchase of Cosworth at this time.