British Formula One racing team WilliamsF1 announced last Thursday, July 27, that Toyota Motors will be the official engine supplier of WillilamsF1 for the next three consecutive years. In accordance with this, WilliamsF1 will end its one-year partnership with Cosworth, which is its current engine and transmission supplier. This will leave Cosworth without any supported racing team in the upcoming 2007 season. Toyota will also have to make their final decision on whether to abandon their own racing team to provide their full support for WilliamsF1, or to continue their F1 team.

The agreement was signed by both companies and will take effect starting 2007. According to the terms of agreement, WilliamsF1 will utilize engine specifications the same as the engines used by Panasonic Toyota Racing or the Toyota F1. Both racing teams are looking forward to attain essential benefits of their partnership.