TOYOTA GAZOO Racing and MoneyGram Haas F1 Team Agree on Technical Partnership for the Future of the Automotive Industry

TORONTO, Ontario – October 11, 2024 – TOYOTA GAZOO Racing (TGR) and MoneyGram Haas F1 Team announced today that they have concluded a basic agreement on entering a technical partnership concerning MoneyGram Haas F1 Team vehicle development and collaborative efforts. Through this partnership, the two sides aim to contribute to the development of the automotive industry by creating an environment in which young Japanese drivers, engineers, and mechanics can gain experience and grow in the FIA Formula One World Championship (F1), the pinnacle of motorsports.

TGR continues to compete in motorsports to hone the three essential elements of car manufacturing: people, pipeline*, and product. In the "driver-first" car making strongly advocated by Toyota Motor Corporation Chairman Akio Toyoda, aka Morizo, cars are repeatedly broken and fixed in the arena of motorsports, and professional driver feedback is thoroughly incorporated into the development of production vehicles. In recent efforts to strengthen this approach, there is a growing need to enhance people by developing drivers, engineers, and mechanics, to effectively use the pipeline of data analysis and utilization, and to apply insights gained to products through vehicle development.

Through the technical partnership announced today, TGR intends to further strengthen people and learn MoneyGram Haas F1 Team's pipeline, which is one of the team's strengths in F1, to accelerate the creation of ever-better motorsports-bred cars.

Specifically, the agreement entails the participation in MoneyGram Haas F1 Team test drives by TGR training drivers, engineers, and mechanics. This will enable the drivers to gain driving experience in F1, and it will allow the engineers and mechanics to learn how to analyze vast amounts of data, such as driving data, to effectively operate a pipeline for such at TGR. The agreement also entails the participation of TGR engineers and mechanics in MoneyGram Haas F1 Team racing car aerodynamics development to cultivate human resources―by having participants design and manufacture carbon-fiber parts in simulated extreme operational environments―who can play active roles on the front lines of the pinnacle of motorsports and reflect the technology and knowledge acquired in production vehicles.

Sharing a desire to contribute to motorsports and the automotive industry through human resource development, TGR and MoneyGram Haas F1 Team intend to continue their initiatives for strengthening their racing teams.

*The know-how and infrastructure for multi-point sharing of vast amounts of data, such as ongoing race driving data, immediately analyzing such data, and promptly utilizing it in strategic planning for the race at hand

About Toyota Canada Inc.
Toyota Canada Inc. (TCI) is the exclusive Canadian distributor of Toyota and Lexus vehicles. Toyota has sold over six million vehicles in Canada through a national network of 287 Toyota and Lexus dealerships. Toyota is dedicated to bringing safety, quality, dependability and reliability to the vehicles Canadians drive and the service they receive. TCI’s head office is in Toronto, with regional offices in Vancouver, Calgary, Montreal and Halifax, and parts distribution centres in Clarington and Vancouver. Toyota also operates two manufacturing facilities in Canada. Having produced more than nine million vehicles, popular Canadian models built at these facilities include Toyota RAV4, Toyota RAV4 Hybrid, Lexus RX 350 and RX 450h hybrid, as well as Lexus NX 250, NX 350 and NX 350h hybrid. The company has sold more than 20 million electrified vehicles worldwide and is the number one seller of electrified vehicles in Canada.

###