The stricken Marussia Formula One team are set to come out of administration, with former Sainsbury`s boss Justin King linked on Wednesday to a rescue bid that could put them back on the starting grid next month.
McLaren`s new Honda-powered car showed progress on Tuesday with Fernando Alonso completing 32 laps before an engine problem forced an early end to their penultimate day of testing at the Jerez circuit.
Toro Rosso unveiled their 2015 car on Saturday and set their rookie drivers, including Formula One`s youngest ever racer Max Verstappen, an ambitious target of fifth place in the constructors` championship.
Former champions Red Bull are rushing to get their new Formula One car ready for Sunday`s first pre-season test in Spain but there is still plenty of work to be done, team principal Christian Horner said on Tuesday.
Formula One`s Australian season-opener in Melbourne on March 15 is one of five grands prix that will start an hour earlier this year under recommendations made after Jules Bianchi`s crash in Japan last October.