Red Bull has confirmed it has reached an agreement with Honda to take on its Formula 1 engine technology from the beginning of 2022.

The Milton Keynes-based outfit has been without a future engine deal since Honda announced it would be quitting F1 at the end of 2021.

Having endured a successful relationship with the Japanese manufacturer since joining forces in 2019, Red Bull felt its best option going forward was to inherit Honda’s IP.

But in order for this to come to fruition, Red Bull pushed for a freeze on engine development to come into effect from 2022, which was initially met with opposition from rivals teams.

Following a vote last week, it was universally agreed F1 would adopt an engine freeze from next year, enabling Red Bull and sister team AlphaTauri to use Honda’s power unit technology until the end of 2024.

The deal will conclude prior to the next generation of engine regulations being enforced in 2025, when Red Bull could decide to build its own power units.

As part of the deal, Red Bull has formed a new company named Red Bull Powertrains, which will be based at the team’s factory in Milton Keynes.

“This agreement represents a significant step for Red Bull in its Formula One journey,” Red Bull team boss Christian Horner said.

“We were understandably disappointed when Honda made the decision to leave the sport as an engine manufacturer, as our relationship yielded immediate success, but we are grateful for their support in facilitating this new agreement.

“Honda has invested significantly in hybrid technology to ensure the supply of competitive power units to both teams. We now begin the work of bringing the power unit division in-house and integrating the new facilities and personnel into our Technology Campus.

“In the meantime, we are fully focused on achieving the best possible results in what will be Honda’s final season as an official power unit supplier.”

Red Bull motorsport advisor Helmut Marko added: “We have been discussing this topic with Honda for some time and following the FIA’s decision to freeze power unit development from 2022, we could at last reach an agreement regarding the continued use of Honda’s hybrid power units.

“We are grateful for Honda’s collaboration in this regard and for helping to ensure that both Red Bull Racing and Scuderia AlphaTauri continue to have competitive power units.

“The establishment of Red Bull Powertrains Limited is a bold move by Red Bull but it is one we have made after careful and detailed consideration. We are aware of the huge commitment required but we believe the creation of this new company is the most competitive option for both teams.”