Panasonic Toyota Racing: Toyota and Toyoda join forces
Toyota and Toyoda join forces
The deal, which took effect shortly prior to the 2004 Formula 1 season opener in Australia two weeks ago, sees Toyoda Mitsui Europe GmbH become an official technical partner of the Toyota F1 team Panasonic Toyota Racing.
Through their know-how of automotive part machining, Toyoda Mitsui Europe GmbH will support Toyota Motorsport in the production of high quality components for its 2004 race car, the TF104.
Csaba Lerinc, President of Toyoda Mitsui Europe GmbH said of the deal, "As technical partner of the Panasonic Toyota Racing team, Toyoda Mitsui Europe GmbH and Toyota Motorsport are together able to meet the key F1 targets of speed, precision and quick reactions, whether on the track or in the factory. It is not just with the proximity of our similar sounding company names that brings Toyota Motorsport and Toyoda Mitsui together. In fact, Toyoda machine tools have effectively been working in Toyota automobile plants for over 60 years and it is an honour to take our relationship to this exciting new level."
Executive Vice President of Toyota Motorsport Toshiro Kurusu added: "It is a pleasure to welcome Toyoda Mitsui Europe GmbH to our F1 programme as technical partner. Toyoda's work with our CNC (Computer Numerical Control) department will ensure we can machine highly sensitive automotive parts and respond quickly and precisely to the ever-changing demands of the design engineers, which will be instrumental in developing our race car during the season."