Mercedes goes it alone in F1 in 2010

Mercedes-Benz will enter the 2010 Formula 1 season with its own team. Parent company Daimler AG and the automaker’s largest shareholder, Aabar Investments, have bought 75.1 percent of the championship-winning Brawn GP team.

The move means major changes are afoot going into 2010. First and foremost, the Vodafone McLaren Mercedes team is no more, as the German automaker has ended its 15-year on-track relationship with the British company.

Meanwhile, Brawn GP ties-up with Mercedes, creates the new Mercedes Grand Prix team. Brawn GP was born last year from the tatters of the Honda F1 team. Technical director Ross Brawn, transformed the outfit into a winning concern and will continue to lead the new M-B factory team.

Mercedes said it break up with McLaren was mutual. The automaker realizes the UK company is increasingly focused on its new street cars, like the coming MP4-12C. McLaren will buy back its shares from Daimler AG.

McLaren Mercedes competed in 256 Grand Prix races, with 60 victories and World Championships in 1998, 1999 and 2008.

Mercedes said its decision to go it alone in F1 was largely done to cut costs and because of new rules that limit team’s spending on design, construction and running of it racing cars.

McLaren could still supply M-B with engines until 2015.

The return of an in-house Mercedes F1 team coincidentally comes on the 75th anniversary of the famed Silver Arrow racecars.

There’s no official word yet on drivers for the teams.