Strakka Racing has announced it is set to break into the LMP1 class in 2017 after the revolutionary LMP2 regulations made the British team revise its strategy in endurance racing.

The Silverstone-based squad has set out an 18-month timetable to prepare an LMP1 car for the privateers' category which will make its debut in the 2017 FIA World Endurance Championship. Having recently undergone a series of expansions at its British base and adjusting its 'long term business goals', team principal Dan Walmsley sees it as the right time to make the step up.

"The 2017 LMP2 regulation changes that restrict the number of chassis manufacturers meant we had to evaluate our current business strategy and seriously look at projects that would enable us to draw on the experiences we have from our LMP2 car," Walmsley said.

"After evaluating all the options, the LMP1 Privateers' category now offers the best arena to create our own car, which we will use to showcase our growing knowledge of new design and manufacturing processes to build a cost effective car in the shortest timeframe.

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"Strakka Racing is continuing to develop and this will be another step forward to becoming a true sustainable motorsports business."

Strakka Racing has already begun to search for an engine partner, while its 2015 S103 chassis will be used as a kickoff point in the development for its LMP1 machine.

As a result, the team will race a recently-acquired Gibson for the remainder of 2015 season. Testing on the Gibson will commence later this month ahead of the fourth round of the FIA WEC at Nurburgring.

Team founder Nick Leventis has thanked his entire team for supporting the bold switch and feels it is a positive step forward for the British outfit.

"Alongside this expansion and now designing our very first Strakka car in-house, we have been able to secure a car to continue to race," Leventis said. "This is another significant step forward for Strakka Racing as it continues to grow."