By alley - Sep 15, 2017, 3:34 AM ET

Honda and Toro Rosso announce works partnership

Honda will become the works power unit partner for Toro Rosso from the 2018 season onward, the Japanese manufacturer has confirmed.

Shortly after the official announcement that

McLaren has ended its Honda partnership to use Renault power units next season

, Honda confirmed it will switch to Toro Rosso on a multi-year deal and remain in Formula 1 after three tough seasons since its return. Honda president Takahiro Hachigo says a number of key stakeholders were involved in ensuring the new partnership went ahead.

"Toro Rosso is an experienced team with a youthful energy and history of nurturing the stars of the future," Hachigo said. "Everyone at Honda is looking forward to working with Toro Rosso, and we are excited to start this new chapter in our Formula 1 journey with them.

"I would like to express our appreciation to Liberty Media and the FIA for their cooperation toward the realization of this partnership. Honda and Toro Rosso will work as one team to strive for progress and a successful future together. We appreciate the support of our fans as we begin this challenge."

Having agreed to end its partnership with McLaren at the end of its third season, Hachigo insisted Honda will continue to push hard until the final race this year.

"It is unfortunate that we must part ways with McLaren before fulfilling our ambitions; however, we made the decision with a belief that this is the best course of action for each other's future.

"On behalf of Honda, I would like to express my sincere gratitude to fans who have been very supportive of the team as well as the drivers, team members and everyone involved who shared with us in the joys and disappointments since we began preparing for our return to F1 in 2015.

"Honda will continue the fight together with McLaren all the way to the end of the 2017 season, and then continue its F1 racing activities in 2018 and beyond."

Toro Rosso team principal Franz Tost said Honda's past successes in Formula 1 still give him confidence that the Japanese manufacturer will deliver in future.

"Everyone in our team is very much looking forward to working with Honda," Tost said. "Ever since its founder Soichiro Honda entered his motorcycles in events, racing has always been a central part of the company's ethos. It's a very exciting challenge and I hope that both parties will gain a great deal from it as we develop together.

"Honda has a long history in Formula 1, dating back to 1964 when it first entered the sport with its own team and, as an engine supplier it has taken five Drivers' World Championship titles and six Constructors. This heritage, together with the full confidence that we have in Honda's capabilities to succeed, make me strongly believe that we will achieve a fruitful future together."