High Quality Content by WIKIPEDIA articles! Panasonic Toyota Racing was a Formula One team owned by Japanese car manufacturer Toyota and based in Cologne, Germany. Toyota announced their plans to participate in F1 in 1999, and after extensive testing with their initial car, dubbed the TF101, the team made their debut in 2002. The new team grew from Toyota's long-standing Toyota Motorsport GmbH organisation, which had previously competed in the World Rally Championship and the 24 Hours of Le Mans. Despite a point in their first-ever race, Panasonic Toyota Racing never won a Grand Prix, their best finish being 2nd place, which they achieved five times - in 2005, 2008 and 2009.