Racing Point to build new Silverstone factory for 2021

The Racing Point Formula 1 Team is planning to build a brand new factory at its base in Silverstone before the 2021 season. The team launched its new identity on Wednesday, confirming that online betting company SportPesa would be its new title sponsor for 2019.

The outfit formerly known as Force India was saved from administration last August by a consortium of investors led by Canadian businessman Lawrence Stroll. As part of the team's added investment, a fresh facility is in the pipeline as it aims to expand and grow towards the front end of the field.

"There is a huge amount going on behind the scenes and I would say it has been the busiest winter I can remember,” said team principal Otmar Szafnauer. “Not only are we delivering the new car, but we are also planning for the future and trying to improve our facilities and tools following years of underinvestment.

“We are expanding the current factory to accommodate a growing workforce and simultaneously planning the build of a new facility, which will also be located in Silverstone. We expect [the new factory] to be completed by 2021, and there [is also the] introduction of a new motorhome at European events later this year.

“These are not easy tasks and they require lots of energy and resources to deliver. But we are well aware that the focus of our key people needs to remain on the performance of the car and that’s very much the case.”

While Racing Point targets becoming F1 world champions in the long-term, Szafnauer added that its aim for the upcoming year or two is to become a consistent challenger for podiums.

“The long-term aim is to take this team to the very top of the sport,” he said. “In the short- and medium-term we need to take the fight to the top three teams and establish our position as a podium contender.

“This won’t happen overnight and the new owners are realistic about the amount of work needed to get us to that level. We are putting the building blocks in place to deliver on these ambitious targets and it’s important that we take a good step forward in 2019.

“We want to be fighting for podiums on merit this year and aiming for a top four finish in the championship.”