Jaguar out of F1

The Ford Motor Company's desire to cut costs has put paid to the firm's plans in Grand Prix racing with the closure of both Jaguar Racing and Cosworth Racing, Ford's competition engine subsidiary. The news was announced by Richard Parry-Jones, group vice president, Global Product Development, and Chief Technical Officer of the Ford Motor Company, the man who oversees the Ford Premier Performance Division,

More details will follow.

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