Citroen and Peugeot not planning F1

Sources at PSA Peugeot Citroen say that rumours suggesting that the French company might buy the assets of Honda Racing F1 are not going to become a reality. The company was involved in F1 between 1994 and 2000 as an engine supplier with McLaren (1994), Jordan (1995-1997) and Prost (1998-2000). There is obvious merit in F1 for image-building but Peugeot sources say that it is not possible to invest the kind of money needed at the same time as it is closing down production facilities and idling factories. The company does not know how the rumours started.

The spokesman also added that he had no idea how the rumor had started about the Peugeot racing group being (again) involved with F1.

Peugeot is continuing its assault at Le Mans with the diesel-engined 908 HDi FAP, while Citroen is going to stay in the WRC.

sourcwe granprix.com