McLaren has reached an agreement with Honda to be released from their partnership and switch to Renault power from the 2018 Formula 1 season.
As the news of the McLaren-Honda break-up was formally confirmed at the Singapore Grand Prix, Takahiro Hachigo said he was disappointed the partnership had not delivered results but said that it would not have been good for them to stay together.
"It is unfortunate that we must part ways with McLaren before fulfilling our ambitions, however, we made the decision with a belief that this is the best course of action for each other's future," he said, in a statement issued by McLaren.
Scuderia Toro Rosso, in turn, has signed a multi-year engine supply deal with Honda. As part of the deal, Carlos Sainz Jr has been released from his 2018 contract with Toro Rosso and will join the Renault team on loan next year in place of Jolyon Palmer.
Renault F1 managing director Cyril Abiteboul said: "Carlos is a very promising driver who has been on our radar for some time, especially after his successes in Renault junior formulae. It is positive news for us to be able to confirm Carlos for 2018."
Toro Rosso is yet to confirm its 2018 driver line-up. However, Honda protégé Nobuharu Matsushita is a possible candidate. Matsushita is currently sixth in the Formula 2 standings this year; should he finish in the top three, he should garner enough Super Licence points to move up to Formula 1.