British Formula One racing team WilliamsF1 announced last Thursday, July 27, that Toyota Motors will be the official engine supplier of WillilamsF1 for the next three consecutive years. In accordance with this, WilliamsF1 will end its one-year partnership with Cosworth, which is its current engine and transmission supplier. This will leave Cosworth without any supported racing team in the upcoming 2007 season. Toyota will also have to make their final decision on whether to abandon their own racing team to provide their full support for WilliamsF1, or to continue their F1 team.

The agreement was signed by both companies and will take effect starting 2007. According to the terms of agreement, WilliamsF1 will utilize engine specifications the same as the engines used by Panasonic Toyota Racing or the Toyota F1. Both racing teams are looking forward to attain essential benefits of their partnership.

"We are delighted to be supplying Williams with engines from 2007 and working alongside a team rich in history and Formula One spirit," said Kazuo Okamoto, the Executive Vice President of Toyota Motors.

John Howett, President of Toyota Motor sport also said: ?We are pleased to be selected as the engine provider to Williams and look forward to establish a strong relationship with them. We look forward to both teams using each other as a comparative benchmark from which each can improve its own performance and to competing with each other at the front of the grid."

The Team Principal of WilliamsF1, Frank Williams, stated, "This agreement is the cornerstone of Williams' challenge for the World Championship. Toyota is an impressive and remarkable industrial giant, with the most phenomenal reputation for achieving the goals it sets itself. We are proud to have secured their support in our efforts to return to our competitive best."

The technical expertise of Toyota that made the best hybrid car Toyota Prius and Toyota Prius parts will bring significant advantages along with the years of experience in racing competitiveness for WilliamsF1.