TOKYO, Jan 21 – Honda Motor Co. President Toshihiro Mibe said Tuesday the automaker will return to Formula One racing, despite the costs of being involved in the prestigious auto sport, as it looks to strengthen its powertrain technology for its mass-produced vehicles.
Honda, which pulled out of the sport in 2021, will rejoin the auto racing championship for the 2026 season and will supply hybrid power units to Aston Martin, which will develop the chassis.
“We are deliberately choosing a tough path so that we can achieve growth and build world-class technology,” Mibe told a press conference in Tokyo.
A new power unit cost cap was set at $130 million from 2026. Still, the budget is hefty as Honda expects a 64 percent profit drop for the current business year due in part to a higher U.S. tariff on vehicles from Japan.
Mibe said his company hopes engineers from the F1 racing will help develop advanced technology for products for the mass market.
“We are struggling but it makes sense to do F1,” Mibe said.
