Honda plans to continue its involvement in F1 Grand Prix events during 2002 by entering 2 teams driving 4 cars. These teams are to be the continuation of the B.A.R. Honda team, which includes the cars jointly developed with British American Racing (B.A.R.), and Jordan Honda, in which Honda F1 engines will be supplied to Jordan Grand Prix.

Meanwhile, Honda and B.A.R., whose relationship is entering its third year, have announced that they have reached an agreement over extending their contract for a further three years. This has been done with the intention of accelerating the joint development of chassis technology, which is one of the aims set for the third year of Honda's F1 activities, and of strengthening the competitive edge of all aspects of their cars, beginning with engine development. Honda R&D Co., Ltd. is currently putting increased energies into its development of both engines and chassis technology at its Tochigi R&D Center, and it is expected that significant improvements in competitiveness will be the result. Both teams are expected to start test driving at the beginning of January 2002.

In comparison with the RA001E used during the 2001 season, Honda has widened the V-bank angle and added a further degree of high output, as well as reducing the engine's weight and size, and lowering the center of gravity.