Racing Point have unveiled plans for their new £25 million factory to be built at the team’s Silverstone site.
Planning permission for the site will be sought this month, with building set to begin later this year, with the plan being to have construction finished in time for the 2021 season.
Racing Point’s current factory is based opposite the gates to the Silverstone GP circuit. Built for the Jordan team who debuted in 1991, it has since housed the various successors of that team, including Midland, Spyker and Force India.
But, with employee numbers for the team now standing at 405 when Racing Point took over in August – a rise from 280 in 2009, the facility now falls short of the needs for a modern Formula 1 organisation.
“This is a new chapter, the dawn of a new era and there is huge energy from the shareholders to invest and help the team become a regular podium contender in the future,” Racing Point team principal Otmar Szafnauer told Motorsport.com.
“The team has never been more stable or in better hands and this project aims to attract and retain the best staff in Formula 1.”
Szafnauer confirmed to F1 Racing that the new facility will allow the team to expand their employee numbers further.
“Our new facility will be able to house the expansion we have planned of increasing staffing levels to around 600.
“We need everyone under one roof, we want to expand our manufacturing output, create a nice canteen, some office space, meeting rooms and a gym for our employees – everything we don’t have at the moment.
“But we don’t plan for it to be too opulent. We still need to retain our DNA and our racer’s ethos, so it will be purpose-built for performance.”