Latifi, 27, made his F1 debut with Williams at the start of the 2020 season and has scored seven points to date in his three-year spell at a team which has largely languished towards the back of the grid during that period.

But the Canadian has struggled to match the performances of teammates George Russell and Alex Albon, while he was also convincingly beaten by Nyck de Vries during a last-minute stand-in cameo at the recent Italian Grand Prix. 

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Williams confirmed Latifi’s impending departure in a statement on Friday morning and said it will announce his replacement for F1 2023 in “due course”. 

"I would like to take this opportunity to thank everyone at Williams Racing - all the people back at the factory and those I work with trackside - for the last three years,” said Latifi. 

“My initial F1 debut was postponed due to the pandemic but we eventually got going in Austria and, although we have not achieved the results together we hoped we would, it’s still been a fantastic journey. 

“Getting those first points in Hungary last year was a moment I’ll never forget, and I will move onto the next chapter of my career with special memories of my time with this dedicated team. 

“I know none of us will stop putting in every effort until the end of the season.” 

Williams CEO and team principal Jost Capito described Latifi as a “great team player”.

“On behalf of the whole team, I would like to say an enormous thank you to Nicholas for his three years of hard work with Williams,” Capito said. 

"He is a great team player who has a great attitude towards his colleagues and work and is well liked and respected throughout the business. 

“Our time together is now coming to an end, but I know he will put full effort in to maximise what we can do together for the remainder of this season. We wish him all the very best of luck for his future, both in and out of the cockpit.”