Toyota announced their return to Formula One on Friday following a 15-year absence, signing a technical partnership with US team Haas. The Japanese manufacturers spent eight seasons in Formula One before leaving at the end of 2009 with a record of 13 podium finishes and no Grand Prix wins. Haas, currently seventh in the 10-team constructor standings, said Toyota would provide “design, technical and manufacturing services”.

The team said their cars would feature Toyota branding at the United States Grand Prix in Austin, Texas, later this month.

Toyota chairman Akio Toyoda said that he “had finally gotten back to being an ordinary older guy who loves cars”.

“I think that, somewhere deep in his heart, that ordinary older car-loving guy Akio Toyoda had always regretted having blocked — by pulling out of F1 — Japanese youths’ path toward driving the world’s fastest cars,” he said.

Toyoda added that he believed his decision to withdraw from the sport in 2009 “was not wrong”.

Haas team principal Ayao Komatsu said he was “hugely excited” to work with Toyota.

“To have a world leader in the automotive sector support and work alongside our organisation, while seeking to develop and accelerate their own technical and engineering expertise — it’s simply a partnership with obvious benefits on both sides,” he said.

Haas have signed French driver Esteban Ocon to drive for them next season on a multi-year contract.

Ocon will team up with 19-year-old British driver Oliver Bearman.

Danish Formula One driver Kevin Magnussen will leave Haas at the end of the current season, the US constructor announced Thursday ahead of the Hungarian Grand Prix. “MoneyGram Haas F1 Team can confirm Kevin Magnussen will depart his race seat upon the conclusion of his current contract at the end of the 2024 FIA Formula 1 World Championship,” the North Carolina-based constructor wrote on X. Magnussen will leave the team he has represented in 135 Grand Prix across seven seasons — split between 2017-2020 and 2020-2024 — at the end of the F1 campaign, which culminates with the Abu Dhabi Grand Prix in early December.

“I’d like to extend my thanks to everyone at MoneyGram Haas F1 Team — I’m proud to have raced for such a great team of people these last few years,” said Magnussen.

“In particular I’d like to thank Gene Haas (the team founder) for his commitment to me, notably in bringing me back once again in 2022 when I thought, at that time at least, my time in Formula 1 had ended. I’ve enjoyed some great moments with this team – memories I’ll never forget,” added the 31-year-old.

Magnussen’s best results for Haas came in two fifth-place finishes in Bahrain and Austria in the 2018 season, when he also came ninth in the overall driver standings.

The Dane’s departure follows on from that of German team-mate Nico Hulkenberg, meaning Haas will feature a completely new line-up next year.

The American team announced the arrival of 19-year-old Briton Oliver Bearman at the start of July, and French Alpine driver Esteban Ocon is the favourite to take Haas’ second seat.