Honda made the surprise announcement of its withdrawal from the Formula 1 championship as an engine supplier at the end of the 2021 season during a press conference in Tokyo this morning.

The Japanese carmaker is instead going to focus on the research and development of fuel-cell and EV technologies as part of their plan to realize carbon neutrality by 2050.

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“Honda needs to funnel its corporate resources in research and development into the areas of future power unit and energy technologies, including fuel cell vehicle (FCV) and battery EV (BEV) technologies, which will be the core of carbon-free technologies,” the company said in a statement.

Honda will quit Formula 1 at the end of 2021, which is the final year of the motorsport’s current technical regulations.

It’s currently unclear which engine supplier is going to replace Honda at Red Bull Racing and Scuderia Alpha Tauri, leaving both teams with just three options: Mercedes-AMG, Ferrari, and Renault. However, both Mercedes and Ferrari are unlikely to strike a deal with Red Bull and Alpha Tauri, with Renault currently being the most probable supplier for the two teams.

“As a Team we understand how difficult it has been for Honda Motor Company to reach the decision to step back from Formula One at the end of the 2021 season,” said Red Bull Team Principal Christian Horner. “Whilst we are disappointed not to continue our partnership with Honda, we are enormously proud of our joint success, delivering five wins and 15 podiums for both Red Bull-owned teams and we thank everyone at Honda for their extraordinary efforts and commitment.”

Honda returned to Formula 1 in 2015 with McLaren as an engine supplier. The combination wasn’t successful and their partnership ended after three race seasons, with Honda then supplying Alpha Tauri for a year before striking a deal with Red Bull as well.