Thursday, July 30, 2009

BREAKING : BMW to quit Formula One by the end of 2009 season!

BMW surprised the Formula One world by announcing their exit as a team and engine supplier at the end of 2009 season.

“Resources freed up as a result are to be dedicated to the development of new drive technologies and projects in the field of sustainability,” BMW said in a statement. “BMW will continue to be actively involved in other motor sports series.”

“Of course, this was a difficult decision for us. But it’s a resolute step in view of our company’s strategic realignment,” explained Dr. Norbert Reithofer, Chairman of the Board of Management of BMW AG. “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.”

Reithofer said that BMW will remain active in the field of motor sports, focusing on close-to-production motor sports and promoting young drivers.

Source : [BMW via F1-Live]

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