Prodrive, the engineering company renowned for its work on Subaru rally and road cars, is to enter Formula 1 in 2008.
The Banbury-based firm set up by David Richards over 20 years ago has been confirmed this morning as the 12th entry for the 2008 season. Its application was chosen by motorsport's governing body, the FIA, over proposed entries from former Minardi owner Paul Stoddart and Japanese investment company Direxiv.
Richards was predictably pleased at the FIA's decision. 'An entry is just the beginning,' he told our sister site autosport.com. 'We now have less than two years to build a team and put two competitive cars on the starting grid for the first race of the 2008 championship. The task is enormous and the expertise and experience of the established teams well recognised. However, we more than 20 years of motorsport experience and all of us relish a challenge.'
Prodrive has plans to construct a new Formula 1 factory at its current 'Prodrive Live' facility in Warwickshire, but these have yet to receive planning approval.