The deal extends a partnership that first started in 1995 and means Marc Marquez – plus new teammate Joan Mir – will race in the well-known Repsol colors for the next two seasons.
Without a world title since Marquez’s arm injury in early 2020, “the goal from 2023 is clear: to be the best in MotoGP again,” a team statement said.
Repsol will also begin preparations for the 2024 season, when MotoGP fuel must be of at least 40% non-fossil origin, rising to 100% by 2027.
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Koji Watanabe, president of Honda Racing Corporation, said: “It gives us great pride to once again continue our partnership with Repsol and extend a long and fruitful partnership.
“We don’t just work as a sponsor and manufacturer; we are a real team with a deep level of technical cooperation. With upcoming changes to fuel regulations, having a partner like Repsol is critical.
“We will work with them again to achieve the best possible performance and results.
“Together we have celebrated good days and worked together to overcome the bad – we remain sharply focused on returning to the top of the World Championship and remain the benchmark in technology and competition.”