It’s based on the Mk3B that won the 24 Hours of Daytona in 1969, but instead of being made of fiberglass, the bodywork is a demonstration of a new process Lola is calling the Lola Natural Composite System (LNCS). It has been granted an FIA passport making it eligible for historic racing (despite having a contemporary Chevrolet V8 inside), and there will be 16 road-legal versions sold to the fabulously wealthy as well.

Reporters asked BMW M CEO Frank van Meel if he’s thought about going back to Formula 1 now that Audi and Cadillac are in and Mercedes is wiping the floor with everybody. He said, “The answer is no,” arguing that, despite the obvious marketing benefits, there wouldn’t be enough relevant technology transfer to their consumer vehicles.

That’s quite a take considering that BMW M is still working very hard on its hybrid LMDh car in top-level endurance racing. Van Meel says that one is plenty road-relevant. He also, though, “think[s] this year is going to be the first one in Formula One that there’s a hybrid system,” though, so don’t assume the guy knows what he’s talking about. (Formula 1’s first year with a hybrid power unit was 2014.)

Bring it on. I hope they crank up the competition in motorsports as much as they are in making good road cars that people actually want and can afford.

This year, we’ll see their LMDh hypercar on track ahead of its racing debut next year, and McLaren execs are doing some press about how they’re justifying this effort. They’re calling it Project Endurance. They’re going to make and sell track-only consumer versions and host driving events with them, that sort of thing. Obviously this is for the mega-elite — McLaren’s GT cars were already very high-end, and this is going up-market — but maybe it’s also the kind of thing that convinces the mega-elite to stay invested in motorsports.

To me, this is an indication that Formula 1 remains emphatically Formula 1, and all is well in the world. I’m looking forward to seeing Kimi on track.