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Following earlier news that it was expected to do so, Honda has officially announced its return to Formula 1 beginning from the 2015 season, striking up a partnership with McLaren in which it will supply engines to the latter. The automaker made the announcement yesterday evening in Tokyo.

The alliance will see Honda being in charge of the development, manufacture and supply of the power unit, including the engine and energy recovery system, while McLaren will be in charge of the development and manufacture of the chassis as well as the management of the team, which will be known as McLaren Honda.

The two names will be hoping to recreate the success of their involvement in the late 80s to the early 90s, in which four constructors championships and four driver’s titles were bagged.

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“The new F1 regulations with their significant environmental focus will inspire even greater development of our own advanced technologies and this is central to our participation in F1. Together with McLaren, one of the most distinguished F1 constructors, Honda will mark a new beginning in our challenges in F1,” said Honda president and CEO Takanobu Ito.

“The names of McLaren and Honda are synonymous with success in Formula One, and, for everyone who works for both companies, the weight of our past achievements together lies heavily on our shoulders. But it’s a mark of the ambition and resolve we both share that we want once again to take McLaren Honda to the very pinnacle of Formula One success. Together we have a great legacy – and we’re utterly committed to maintaining it,” added McLaren Group CEO Martin Whitmarsh. Here’s to 2015 then.