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Tyre maker MRF has announced its association with Delhi Championship, the official support race of 2011 Formula 1 Airtel Grand Prix of India.
The company also plans to launch a world-class Formula 1 car by the end of next year. The car, with a carbon fibre body, will have a two-litre engine. The company is still scouting for technical partners for developing the car.
So far, MRF has built 20 Formula 1 cars in India at its plant in Coimbatore, with a total investment of Rs 15 crore. The components are mostly imported. It has also tied up with car manufacturers, such as Ford, for supply of engines. Its total promotional budget for the motorsport segment is pegged at Rs 40 crore.
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