The announcement of Toyota’s intention to enter Formula 1 was made by Hiroshi Okuda, then President, and now Chairman of the Board of Toyota Motor Corporation in January 1999. With a proven success record in rally (43 wins and 7 titles) and Le Mans (2nd place in 1999), Toyota Motorsport in Cologne was selected as the natural base for Toyota’s F1 programme. Toyota’s decision to build its entire F1 car from scratch, engine and chassis, was not the easy route, but one that the company believed would reap advantageous long-term rewards.

Toyota scored championship point in its debut race in Australia 2002 and added one more to its tally in Brazil to set solid foundations for the coming seasons.   In 2003 Olivier Panis and Cristiano da Matta scored 16 points for Toyota with impressive third-place qualifying results in USA and Japan, and the team led the British GP that year for 17 laps. 2004 was more difficult although a fine 5th place by Olivier Panis in his 150th F1 race was a highlight.  Now entering its fourth season in Formula 1 and with just 51 GPs under its belt, Toyota expects to enjoy its most competitive season yet in 2005.

When in November 2004 Formula One’s 2005 technical regulations were confirmed including both a rule that engines must last for two races and limits to the amount of testing teams can carry out, Toyota Motorsport agreed a deal with Jordan Grand Prix to supply customer Toyota RVX-05 engines to the Jordan team for the 2005 season.

Tsutomu Tomita, Chairman of Toyota Motorsport GmbH said of the announcement: "The last-minute nature of this agreement offers a real challenge for the upcoming season, but it is one which we are happy to take on. We are pleased to be able to offer our services to help another team, given the difficulties that Formula 1 is currently facing, particularly with engine supply. I sincerely hope that the Toyota RVX-05 engine will be a substantial asset to the Jordan team in the coming season."