Panasonic Toyota Racing was a Formula One team owned by the Japanese car maker Toyota and based in Cologne, Germany. Toyota announced their plans to join F1 in 1999, and after a long time testing with their TF101 car, the team raced for the first time in 2002. The new team has grown from Toyota's long standing European "Toyota Motorsport" organisation, which has previously competed in the World Rally Championship and the 24 hours of Le Mans. Despite a point in their first ever race, Toyota F1 have not yet won a grand prix, their best finish so far being 2nd place in 2005, during which they achieved three podiums and a pole position, as well as finishing fourth in the world constructors' championship with 88 points.