The BMW Williams F1 team have set their sights high in the 2002 FIA Formula 1 World Championship.

Unveiling the new car, the Williams F1 BMW FW24, at Silverstone, team principal Sir Frank Williams said: "After four commanding victories, four pole positions and eight lap records in our second year together, our expectations for the third season are high.

"We have great hopes for our new chassis, the FW24, and for the new P82 BMW engine. Beyond that, we've got the strongest team of drivers. Ralf Schumacher and Juan Pablo Montoya are different personalities, with different driving styles, but their goals are identical."

BMW motorsport director Gerhard Berger said: "Such a strong driver line-up will be a real catalyst to push us on. My expectation is that the drivers will enjoy a closely matched degree of success during the year. Juan will be better on some circuits, Ralf on others. Both of them have proved they can win Grand Prix races."

A team led by Williams chief designer Gavin Fisher designed the FW24 chassis in Grove, while the engine was designed at the BMW F1 factory in Munich under the guidance of director of F1 development Dr Werner Laurenz.

Fisher said: "The 2002 season sees few regulation changes, that brings with it the increased challenge to improve on a car which is already in a relatively high state of evolution.

"In many respects, it is more stimulating for a designer if the canvas is blank when it comes to starting on the development of the next car.

"As you progress, the opportunities for improvement are marginalised, and increasing amounts of effort must be expended for diminishing returns."

The design team at Williams F1 did have to embrace a new BMW engine, the P82, which in turn required the development of a new gearbox, and changes to the rest of the drivetrain.

Testing of the new car has already started on the Circuit de Catalunya near Barcelona.