Williams F1 Team Expects To Lose Up To $32M After Hybrid Supercar Project Delayed
The Williams F1 team is expected to lose up to £20M ($31.4M) in revenue this year after Jaguar "put the brakes on a hybrid supercar, which the two were developing," according to Christian Sylt of the London EXPRESS. The Jaguar C-X75 supercar was announced in '10 and "was powered by a turbocharged 1.6-litre petrol engine as well as two electric motors." It was due to have a top speed of 205mph and a price tag of up to £1M ($1.57M). In December, the "weak economic climate led Jaguar to announce that it would not put the car into production." In the year ending Dec. '12, Williams’ revenue accelerated 22% to £127M, but a report by Switzerland’s Bank am Bellevue predicts that it will dip to £102.2M ($160.5M) in '13 "due to the supercar costs" (EXPRESS, 6/16).
IT'S NOT OVER YET: AUTOSPORT reported ahead of its 600th F1 start at the British Grand Prix, Williams "has yet to score a world championship point" in '13. Deputy Team Principal Claire Williams said that the team "is determined to get itself back in shape this year." She insisted that "the team must understand exactly what went wrong with the design of its car over the winter, and is adamant another stumble next year would be unacceptable" (AUTOSPORT, 6/17).