Gene Haas announced on Tuesday that his venture into Formula One ownership will be under the team name Haas F1 Team and not Haas Formula. Haas Formula will remain the legal entity however since that is the name Haas' team was granted entry into F1 by the FIA.
The name change will better help the team be recognized for competing in the highest level of world motorsports.
“Haas F1 Team automatically conveys our place among the pinnacle of motorsports,” said Haas. “When you hear ‘F1’ you know exactly what it is – a global racing series that showcases the latest technology and attracts the best talent in engineering and design. Haas Automation has an excellent reputation in the United States and I want that reputation to grow worldwide."
“Connecting Haas Automation with F1 in name and in practice when the Haas F1 Team debuts in 2016 is the best way to grow our business and elevate Haas Automation to a premium, global brand," Haas said.
Construction of the team's new F1 facility in Kannapolis, North Carolina is scheduled to be completed in November.
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