BMW quits F1

29th July 2009

IT'S all over for BMW in Formula One – the company has announced it will pull out of Grand Prix racing at the end of the 2009 season.

Following Honda – who pulled out before the start of the current season – BMW is the latest high profile car company to quit Formula One. The company has blamed a poor run of results for its decision and has decided to spend its money on environmental campaigns rather than F1 racing.

Dr. Norbert Reithofer, chairman of the BMW board, said: "Premium will increasingly be defined in terms of sustainability and environmental compatibility. This is an area in which we want to remain in the lead. In line with our Strategy Number ONE, we are continually reviewing all projects and initiatives to check them for future viability and sustainability. Our Formula 1 campaign is thus less a key promoter for us."

BMW has spent 10 years in F1 racing, including time as an engine supplier for Williams and Sauber, taking over the Swiss team in 2005. Results have not been forthcoming though.
Dr. Klaus Draeger, BMW board responsible for development, said: "It only took us three years to establish ourselves as a top team," he said.

"Unfortunately, we were unable to meet expectations in the current season. Nevertheless, our experience has had a major impact on our development engineers. We have racing to thank for numerous technological innovations as well as the competitive spirit that drives us to develop mass-produced cars."

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