Honda will withdraw from Formula One on the finish of the 2021 season, the Japanese engine producer introduced Friday, citing “environmental initiatives.” Honda, which resumed competition in F1 in 2015, is the facility unit provider to Red Bull and AlphaTauri.
The firm mentioned it had attained its objectives of incomes victories last season and two wins in 2020.
“In the meantime, 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,’” Honda mentioned in an announcement. “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.
“Toward this end, 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,” it mentioned.