Honda abandons Formula 1 for EVs

Japanese auto giant Honda has abandoned Formula 1 motor racing to plough more money into zero emissions vehicle development.

The withdrawal will happen at the end of the 2021 season and leaves the Red Bull and AlphaTauri teams hunting a replacement powertrain supplier.

Red Bull employs one of F1’s premier talents, Dutchman Max Verstappen, and his future with the team could be clouded by Honda’s withdrawal.

While Honda has pulled out of F1, it has within days reaffirmed its commitment to the US IndyCar championship in the USA, which is shifting to a petrol-hybrid powertrain from the current turbocharged V6s in 2023.

That says something about the return on investment in F1, which required Honda to commit hundreds of millions of dollars per annum to developing its complex V6 turbo-hybrid powertrain to compete with Mercedes-AMG, Ferrari and Renault.

In a statement Honda said:

“Honda needs to funnel its corporate resources in research and development 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.

“As a part of this move, in April of this year, Honda created a new centre called Innovative Research Excellence, Power Unit & Energy.

“Honda will allocate its energy management and fuel technologies as well as knowledge amassed through F1 activities to this area of power unit and energy technologies and take initiatives while focusing on the future realization of carbon neutrality. 

“Toward this end, Honda made the decision to conclude its participation in F1.”

At  an online press conference Honda CEO Takahiro Hachigo added:

“This is not a result of the coronavirus pandemic but because of our longer-term carbon-free goal.”

Honda has long been an investor in fuel cell technology, but has recently been upping its involvement in battery electric vehicles.

It has announced plans for two-thirds of the company’s output to be electrified by 2030. It also wants to be carbon neutral by 2050.

It has completed a deal with General Motors which will see two vehicles based on GM’s Ultium technology in the market by 2024.

In the meantime it has launched the funky Honda e in Japan and Europe and shown the Honda e:concept electric SUV at the Beijing motor show that will go on-sale in China and potentially other markets later.

Honda said it made the decision to withdraw at the end of September and had no intention to return to F1.

It first contested F1 between 1964 and 1968, re-entered in 2006-08 and rejoined once more in 2015.

Its most recent period it started with McLaren, but it wasn’t until the shift to Red Bull and AlphaTauri in 2019 – which are both owned by the Red Bull energy drink company – that success came with five grands prix win so far.