Formula One news

Richards confirms new factory plans

David Richards is preparing himself a new Formula 1 team. He could be setting up his F1 factory in Warwickshire, near Birmingham following a £100 million investment by technical engineering firm Prodrive.

Richards' company Prodrive has lodged plans with the Warwick District Council to develop its 200 acres location. The ground would get new offices, research & development laboratories and design studios.

David Richards told IC Birmingham: "For some years Prodrive has been looking at having its own Formula 1 team. But the longest lead times to do this would be building the facilities. In the event of us going into Formula 1, this building would mean we have the facilities in place.

"This is a sign of our confidence in motorsport and this area. The incentives to house a Formula 1 team in Dubai or Asia are enormous, but we firmly believe this is our future. It will create high end employment for a skilled workforce."

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