Toyota severs links with HRT F1 team

Tokyo: Toyota have ended a cooperation agreement with the struggling HRT Formula One team but are still seeking payment, the Japanese company said.

"TMG (Toyota Motorsport) regrets that HRT has not met its contractual payment obligations and will pursue all available options to reach a satisfactory conclusion to this matter," Toyota said in a statement. Cologne-based Toyota pulled out of Formula One at the end of the 2009 season but had already designed a car for 2010 that could provide a basis for next year.Spanish-owned HRT, or Hispania, have severed their ties with chassis builder Dallara and had been exploring a technical partnership. They have since announced a deal with Williams to use their gearboxes. A day after the season-ending Abu Dhabi Grand Prix, Toyota said that "all cooperation with Hispania Racing F1 Team has been terminated and will not resume."TMG retains all intellectual property rights to its current F1 car and is completely free to pursue other projects and support new customers for its high-performance engineering services." Bureau Report