Toyota is about to pull out of Formula 1, Japanese newspaper Mainichi reports. According to the paper, the Japanese manufacturer will host a press conference on November 8th, where the decision will be announced publicly.
The Toyota board is set to have an important meeting in which the future of the Formula 1 project will be discussed, and the prospects aren’t looking good.
Toyota failed to secure that craved first victory this year, although the team has made a big step forward in competitiveness since last season. With the manufacturer suffering badly from the current economic crisis, the millions spent in the Formula 1 project could very well be used for other issues.
If Toyota indeed pulls out, it would be bad news for rookie Kamui Kobayashi, who performed strongly in the two races when he replaced the injured Timo Glock. After a sixth place in Abu Dhabi, he looked set for a drive in 2010.
On the flip-side, this would mean good news for the former BMW team, who are looking to get a spot on the grid for next year, which they could take over from Toyota.
Who would you rather see in F1?
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