Racing Point reveal plans for new £25 million factory

Racing Point has announced plans to build a new factory at their existing Silverstone site. The cost of the project is expected to reach £25 million.

After the events of last season which saw Lawerence Stroll came in to provide the financial backing, the Pink Panthers are entering a new era. Team principal Otmar Szafnauer is pleased to be able to announce the plans.

"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," Szafnauer said.

For the first images of the factory, click here.