French car maker Peugeot announced that they will leave Formula One at the end of the season, ending their three-year partnership with the Prost team. "Peugeot has decided not to continue its participation in the F1 world championship beyond December 31, 2000," it said in a statement.
Peugeot added that they were selling their engine design, development and operations activity to a Far Eastern group,Asia Motor Technologies (AMT), who will supply the Arrows team in 2001 for an initial two-year period."We will act only as engine supplier and will not be involved in any share acquisition," said AMT in a separate statement. AMT are headed by Japanese Hideo Morita, who is the son of the late Sony chairman Akio Morita.Arrows are currently powered by a Renault-based Supertec engine.Peugeot, who run a highly-successful world rally championship team, said they would concentrate on saloon car projects in future.
Prost have had a poor season and, with the tiny Italian Minardi team, are the only ones in Formula One yet to secure a point so far after 10 of the 17 races. Peugeot's exit had been long expected but it leaves former world champion Alain Prost's team without a power unit for 2001 and with a limited range of options open to him.
