Panasonic stays with toyota
Panasonic and Toyota announced today that they have agreed and signed a contract to renew Panasonic's title sponsorship of the Formula One program. Panasonic has been Toyota F1's title sponsor since the team entered into the series in 2002 and the current contract is valid through the end of 2006.
The renewed, 3-year contract is valid through the end of 2009. The team, of which the name remains Panasonic Toyota Racing, will continue challenging Formula One Championships at circuits around the world.
Panasonic and TMC have been building a longstanding business relationship through such activities as joint development of automotive AV equipment and batteries for hybrid cars, and both partners hope to continue strenghtening their cooperation through the F1 program.
