Highlights

Dutch car maker joins F1 Grand Prix

(Xinhua)
Updated: 2006-09-12 10:17

The Netherlands will for the first time in history have a team competing in the Formula One Grand Prix, Dutch daily De Volkskrant reported Monday.

Spyker, a Dutch manufacturer of luxury sports cars, has taken over the Midland F1 team for 84 million euros. The team will race under the name of Spyker MF1 racing.

The news was announced by Spyker director Victor Muller on Sunday at the Monza circuit during the Italian Grand Prix in which Dutch racer Christijan Albers' team finished last.

Muller said the deal gave Spyker a "position in the world's largest marketing machine".

The Zeewolde-based Spyker is a small but successful car manufacturer that produces some 100 luxury vehicles in the 250,000 euro and upwards price bracket every year. The company expects to see profits for the first time this year.