Harry Vaulkhard will race for a new team for the remainder of this year's British Touring Car Championship.
Bamboo Engineering has been set up by Richard Coleman, who has left his role as team director of Tempus Sport - the squad which has run Vaulkhard's Chevrolet Lacetti so far - following a series of disagreements with team owner Julian Tanser.
"We had some major fundamental differences over the engineering, operational and financial structure of the team with the owner of Tempus Sport, Julian Tanser. We therefore decided to breakaway completely and form Bamboo Engineering," said Coleman.
Vaulkhard will drive the same 2008-specification Lacetti as he has done throughout the season so far.
"I'm really happy that this now gives the team more long term stability within all areas," he said. "Everyone who has worked on my car this season is moving over to Bamboo which I'm very pleased about as it will maintain the continuity with the progress that we have made this year."
Bamboo has confirmed that Vaulkhard will remain with the team next year as well and is virtually certain to drive a Lacetti again, rather than the new Cruze model.
The announcement means that the Tempus name will disappear from the BTCC.