 Champ Car officials confirmed that Panoz would be the sole chassis supplier for Champ Car for the three years beginning in 2007.The Panoz DP01 was built by sister company Élan Motorsport Technologies and was powered by a turbo-charged Cosworth engine.The new formula was reported to significantly lower the costs of competing in the series, which was in turn expected to increase car counts for the 2007 Champ Car season.