Daniil Kvyat driving the a Scuderia AlphaTauri AT01 Honda on track during the Formula One Grand Prix of Styria in July.

Photographer: Mark Thompson/Getty Images

Honda Motor Co. will conclude its participation in the Formula One World Championship at the end of the 2021 season as the coronavirus pandemic dents car sales and the auto industry undergoes a seismic shift toward electric vehicles.

The Japanese automaker currently supplies engines to Red Bull Racing and Scuderia AlphaTauri. It bowed out of world’s most-prestigious automobile racing series once before, in the wake of the global financial crisis, but resumed competition in 2015 with the goal to win using its own energy management technologies.

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