British racing car manufacturer Lola is considering re-entering Formula 1 next year after confirming that it has committed to a full technical, operational and financial evaluation of the project.
The Huntingdon, UK-based company, which has been absent from F1 for 12 years, says it made the decision following the FIA's announcement in March that it would introduce cost-capping to Formula 1.Lola’s history in Formula 1
"The announcement that teams may opt for a prudent, financially responsible 'cost-capped' regime from 2010 has resulted in us deciding to fully evaluate the opportunity to develop a car to compete in the FIA Formula 1 World Championship," said Lola Group executive chairman Martin Birrane. "Providing world-class engineering excellence, offering high quality solutions governed by a tightly controlled financial regime has been part of Lola's DNA over the last decade.
"The current necessity for F1 to adopt a responsible approach in times of economic uncertainty has created the ideal conditions for us to consider developing a car for the World Championship.
"Lola possesses the technical resources, capability and know-how to develop cars capable of competing at the very highest levels of international motor sport, including F1. We are therefore embracing the WMSC's timely announcements and assessing a relevant program for F1 with a view to making a formal entry in the coming weeks."
AUTOSPORT reports that Lola is in talks with Cosworth for a supply of V8 engines for next year, and that it could face competition for the available grid slots from a number of other prospective teams, including the USF1 project.
Lola has already appointed engineering personnel to evaluate the possibility of an F1 return, and already has an F1-standard wind tunnel, computational fluid dynamics capability and a seven-post dynamic chassis rig in its factory.Related story:Lola’s history in Formula 1