Haas and Toyota partner together to "share knowledge and resources for mutual benefit".

Under the new multi-year agreement both parties will share expertise and knowledge, as well as resources - with Toyota Gazoo Racing providing design, technical and manufacturing services, while Haas will offer technical expertise and commercial benefits in return.

With an objective to advance Haas' development and competitive element within Formula 1, Toyota - which was itself a constructor in the world championship between 2002 and 2009 - will further develop its own knowledge and skills in a variety of areas through its involvement with the team competing at the leading edge of global motorsport.

Toyota enjoys a rich and storied history in motorsport dating back more than 60 years, while it's current-day efforts, through Toyota Gazoo Racing, include front-running entries in the FIA World Rally Championship and FIA World Endurance Championship.

Starting with the United States Grand Prix, Toyota branding will be present on the VF-24s driven by Nico Hulkenberg and Kevin Magnussen.

"I'm hugely excited that Haas and Toyota Gazoo have come together to enter into this technical partnership," said Ayao Komatsu. "To have a world leader in the automotive sector support and work alongside our organization, while seeking to develop and accelerate their own technical and engineering expertise - it's simply a partnership with obvious benefits on both sides. The ability to tap into the resources and knowledge base available at Toyota Gazoo Racing, while benefiting from their technical and manufacturing processes, will be instrumental in our own development and our clear desire to further increase our competitiveness in Formula 1. In return we offer a platform for Toyota Gazoo Racing to fully utilize and subsequently advance their in-house engineering capabilities.

"I'm naturally pleased that we've had the support of the likes of Formula 1 and our long-term partner, Scuderia Ferrari - who we announced our further continuation with earlier in the season, in the formation of this new technical partnership - designed to achieve continued success in our Formula 1 endeavours," he added. "Together with Gene Haas, I'd specifically like to thank Stefano Domenicali (CEO - Formula 1) and Fred Vasseur (Team Principal - Scuderia Ferrari) on that front, and with Toyota I'd like to thank Akio Toyoda (Chairman - Toyota Motor Corporation), Tomoya Takahashi (President - GAZOO Racing Company) and Masaya Kaji (Project Manager - GAZOO Racing Company). Everyone at Haas is looking forward to the collaborative results of this new relationship, we can't wait to get started and fulfil our combined ambitions."

"We are pleased to announce that Haas and Toyota Gazoo Racing have concluded a basic agreement to enter a technical partnership such as Haas vehicle development," said Tomoya Takahashi, President of Gazoo Racing Company. "We would like to express our gratitude to Mr. Gene Haas, Mr. Ayao Komatsu, Mr. Stefano Domenicali (CEO - Formula 1), Mr. Fred Vasseur (Team Principal - Scuderia Ferrari), and all our existing partners of the team for their exceptional cooperation and understanding in this collaboration. By competing alongside MoneyGram Haas F1 Team at the pinnacle of motorsports, we aim to cultivate drivers, engineers, and mechanics while strengthening the capabilities of MoneyGram Haas F1 Team and Toyota Gazoo Racing, and we desire to contribute to motorsports and the automotive industry."