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Ferrari Driving Academy Trailer - Click above to watch the video after the jump

Says Jean Todt, newly-appointed president of the Fédération Internationale de l'Automobile (FIA), "I am convinced that we absolutely must reflect the environment with new technologies." With that statement, it would appear that at least some of the direction of former FIA president Max Mosley will stay intact.

Says Jean Todt, newly-appointed president of the Fédération Internationale de l'Automobile (FIA), "I am convinced that we absolutely must reflect the environment with new technologies." With that statement, it would appear that at least some of the direction of former FIA president Max Mosley will stay intact.

According to the Japanese Mainichi newspaper, Toyota is poised to withdraw from Formula One competition and will not take part in the 2010 season. Though no source is given for the news, so far Toyota is neither confirming nor denying the report.

At least for now, disaster seems to have been averted as all ten teams currently taking part in the 2009 Formula 1 championship have signed conditional agreements to take part in the series in 2010. These reportedly hinge on the Formula One Teams Association's ability to reach a mutually-agreeable compromise to the contentious budget cap negotiations currently taking place between the FIA and the teams themselves.