Williams unveiled its FW29 car Friday at the team's headquarters near Oxford, determined to improve on its 11th place finish in the 2006 constructors' standings.
Ten years since it last won the constructors championship, the team is now called AT&T Williams. The car has a new livery and the team announced another major sponsorship deal Friday with computer manufacturer Lenovo.
"Without question, 2006 was not our finest year but I am delighted to see how the entire Williams work force has pulled together and redoubled its efforts over the winner," team chief Frank Williams said. "It is how you perform in adversity that really counts."
The team's drivers are Nico Rosberg, who finished 17th in the drivers' standings in his rookie season last year, and newcomer Alex Wurz, who hasn't raced full-time in F1 since 2000 and has been mainly a test driver.
"The experience from last year is going to help me significantly this season," Rosberg said. "I think we can be optimistic about a much improved season ahead of us."
Wurz replaces Mark Webber, who left for Red Bull after finishing 14th last season in the drivers' championship, reports AP.
"Although I have done thousands and thousands of Formula One kilometers in the last couple of years, I simply haven't had enough of the real stuff racing so I can't wait for the season to start," he said.
The team's test drivers are Kazuki Nakajima and Narain Karthikeyan.