Honda announced that they are staying in Formula 1 until at least the 2021 season. They extended the motor contract with Toro Rosso and Red Bull with one year.
While Honda needs to cut spending in order to secure a long term future in Formula 1, they are committed to make the best out of it. Honda was waiting for the publication of the Formula 1 rules and regulations for 2021 before making a decision to stay.
The long-term vision for Honda isn’t really clarified yet. But there is a big chance that they will stay after 2021 to support the Red Bull and Toro Rosso team.
Red Bull motorsport advisor Dr. Helmut Marko has described it as “a great relief for us” in an interview with Red Bull-owned ServusTV.
Honda joined forces with Toro Rosso in 2018 after three poor seasons with McLaren that were plagued by poor performance and reliability. However, it rebuilt its reputation with Toro Rosso and in doing so convinced Red Bull to switch from Renault power for 2019, in an initial two-year deal. Partnering Red Bull made Honda a race winner in F1 again when Max Verstappen ended a 13-year victory drought at the Austrian Grand Prix.
Max Verstappen has since scored two further victories and Honda recently celebrated its first one-two in 28 years in the Brazilian Grand Prix, in which Verstappen won and Pierre Gasly finished a shock second for Toro Rosso.
“It’s positive to have good results,” Honda’s F1 managing director Masashi Yamamoto told Motorsport.com in Brazil. “But the more important thing is a balance with the cost.
“We have to put lots of budget to accelerate our development to catch up with the top runners. And now we are planning how to maintain the current conditions and reducing the cost at the same time.”
