Jaguar Racing announces new Formula One car

Jaguar Racing Press Release, 25th January: Jaguar Racing today announces the new car which will launch Jaguar into Formula One. The new car - the Jaguar R1 - which will challenge for honors in this year's FIA World Championship, was unveiled at a ceremony in London by Jaguar's Chairman, Dr Wolfgang Reitzle. Speaking at the London launch Dr Reitzle said: 

"Jaguar is a natural and logical challenger in Formula One. For over fifty years we have been consistent winners in motor sport. We have won Le Mans seven times. We have won at Daytona. We have won world Sportscar Championships and we have won the Monte Carlo Rally and the Coupe des Alpes."

"Our entry into Formula One though, clearly signals Jaguar's direction for the future. There is an excitement and passion about Formula One racing which closely matches the emotional appeal of Jaguar. With its constant emphasis on advanced technology, Formula One racing will also be a valuable showcase as we expand our model range - and expand into new sectors of the market - with innovative, performance orientated products such as the X400 - our forthcoming new small sports saloon.

"At the heart of our plans for the future is a renewed commitment to that unique blend of emotion and technology which makes Jaguar one of the most evocative automotive marques in the world. We call it emotional engineering and the F-Type concept car which we unveiled at Detroit two weeks ago perfectly illustrates our philosophy for the future.

"We are a new team. One of the newest teams in Formula One. We have a lot to learn. The team though, is highly motivated and determined to succeed and we are, of course, able to build on the very firm foundations established by Jackie Stewart.

"Our ultimate objective is the ultimate prize in motorsport - the FIA Formula One World Championship."

Jackie Stewart, Chairman of Jaguar Racing said: 

"The birth of a new Formula One team is always an emotional event and I am proud to be associated, once again, with a marque I drove in the early stages of my career and a marque which has such a distinguished and successful racing heritage. When Ford bought the Stewart Ford team it was always my hope that Jaguar would become involved. Jaguar has an ambitious and progressive management team and over the past few months it has been a great pleasure to work with them as we prepared for the new season. I share Jaguar's great sense of heritage. I also admire their vision for the future and I am delighted to be involved in helping Jaguar Racing achieve its objectives.

"The Jaguar R1 is a car with great potential and in Eddie Irvine and Johnny Herbert we have two outstanding drivers who will help us realize that potential. Both drivers have already tested the car at Silverstone, Barcelona and Jerez and the feedback is extremely positive. Cosworth have worked with us to make significant improvements to the engine. Last year's engine was generally recognized as being one of the best - and certainly one of the most powerful , lightest and compact - engines in the Championship. We have an even more competitive engine - the Cosworth CR2 - for this year."

"I am looking forward with great anticipation to the new season."

Jackie Stewart also announced that Jaguar Racing would continue to have the enthusiastic support of major partners HSBC, MCI Worldcom, Lear and Hewlett Packard. For the new season they will be joined by German-based international brewing giant Becks Beer and the global delivery organization DHL, he said. The team's long-standing technology partners - Bridgestone, Visteon and Unigraphics Solutions will be joined by Texaco as the fuel partner.

"All of us at Jaguar Racing are committed to ensuring that our partners share in the massive global exposure generated by Formula One," he added. 

[Jackie also announced he is stepping down as Chairman and CEO of the company.]

Ford Motor Company Vice President and Chief Technical Officer [and Jaguar Racing's new Chairman] Neil Ressler said 

"Jaguar Racing is now an integrated part of Jaguar Cars and is fully responsible for Jaguar's Formula One program. In my capacity as Chief Technical Officer of Ford Motor Company I will be ensuring that Jaguar Racing has access to the full range of Ford Motor Company's technological resources - including Cosworth Racing and Pi.

"I have always advocated the closest possible links between the racing team and Jaguar's engineering team in Coventry and Jaguar engineers and designers are already contributing to the racing program.

"I also believe that Jaguar's production car engineers can learn a great deal from the racing team in Milton Keynes. The need to solve problems quickly breeds a nimble and innovative culture which we will be able to transfer to the road car development programs. I regard technology and process transfer as one of the major advantages for Jaguar and I intend to ensure that we use it for the benefit of our customers," said Mr Ressler.

Jonathan Browning, Jaguar's Managing Director said: 

"Jaguar is expanding rapidly. We have just reported record sales for last year - up 50 percent over 1998. In Europe we grew faster than any other car manufacturer. And we have even more ambitious plans for the future. Formula One, with its massive global reach, will clearly promote a wider recognition of the Jaguar marque. Eighty percent of the cars Jaguar builds are exported. The international dimension of Formula One is a major attraction.

"We know from our previous involvement in motorsport that a successful racing program has major commercial benefits. For example, it will give us that vital connection with the performance orientated buyers - a key factor as we introduce new performance-orientated cars in the future."

Jonathan Browning also pointed out that Jaguar employees were amongst the most enthusiastic supporters of Jaguar's new racing team. 

"Racing is part of the Jaguar culture and there is already tremendous excitement and interest in our plants in the Midlands and on Merseyside," he said.

Jaguar Racing's Chief Operating Officer Paul Stewart described the Jaguar R1 as a new and logical development of last season's car. 

"Every single element of last year's car was analysed and improved and Technical Director Gary Anderson and his team will continue to work with the drivers to make further improvements before the first race in Australia. I'm very confident that we have a car which is capable of winning races this season," he said.