Toyota plans to host 2010 Japanese Grand Prix

[May 29, 2009]  TOKYO (AP) -- Toyota-owned Fuji Speedway plans to host the 2010 Japanese Grand Prix, despite doubts over the Japanese auto maker's future in Formula One.

"We are making plans to host the race next year," a Toyota spokeswoman said Friday.

Japanese newspaper The Asahi Shimbun reported that Toyota was reviewing its plans to host the 2010 race as the global economic crisis continues to affect the auto industry.

The Asahi report said many officials at Toyota are voicing reservations about the huge cost of staging the race.

The Toyota team had also said its future in the sport was contingent upon the outcome of an ongoing wrangle between organizers and teams over the rules for the 2010 championship.

Fuji Speedway hosted the Japanese Grand Prix in 2007 and 2008 for the first time in 30 years, replacing the Honda-owned Suzuka circuit.

The 2009 Japanese Grand Prix will be held at Suzuka, near the city of Nagoya. The race is expected to alternate between Suzuka and Fuji Speedway beginning this year.

Toyota has said it expects the current fiscal year through March 2010 to be its worst ever financially, forecasting a net loss of $5.7 billion.

[Associated Press]

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