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Honda is leaving Formula 1 at end of 2021

The latest Formula 1 news has left the racing community in shock as Japanese automotive producer Honda has announced they will be leaving Formula 1.

In a shock, to the racing community, Japanese automotive producer Honda has announced they will be leaving Formula 1 at the end of the 2021 season.

After returning to the series in 2015 with McClaren nothing ran as smoothly as they had hoped it would as they experienced an ongoing problem with the hybrid technology it had developed with the UK company. The partnership ended in 2017 and Honda joined with Red Bull after a couple of years with Toro Rosso. This partnership proved to be fruitful with them winning races in Austria, Brazil, UK, Italy and Germany. However, this did not prove to be enough as mounting costs outweighed the success of the races.

Another factor in their decision was the expense involved with their decision to produce carbon-neutral cars. A commitment to electrification meant that the resources needed to maintain a competitive edge within F1 could not be met.

New F1 CEO

Liberty Media has announced that there will be a new Formula 1 CEO from the start of next year. The current CEO Chase Carey will leave his position to make way for Stefano Domenicali who recently left Lamborghini. Carey never made a secret of the fact that he had no plans to make his position a long term one and the new appointment was believed to be an open secret. It is believed that Chase will stay on in the interim period as the non-executive chairman of Formula 1.

As a resident of Monza, Domenicali is immersed within the racing industry. As a former team boss at Ferrari during a period of significant growth Domenicali is a logical choice for the position and sure to bring a wealth of experience to the job. His tenure at Lamborghini also saw the company introduce a new model, Urus and hire 700 new staff members.

His arrival also seems a popular choice amongst the teams themselves who appreciate his standing and skillset. Famous F1 driver, Lewis Hamilton was absolutely delighted by the appointment declaring Stefano who is to know to be “one of the nicest guys I know.”