May 11 (GMM) Williams expects its new deal with Jaguar Land Rover to have a positive effect on its formula one foray.

The famous British team announced last week that it is teaming with the Tata-owned carmaker to create a $1 million Jaguar-branded hybrid supercar.

According to the Telegraph, Williams chairman Adam Parr said the deal "is fundamental to understanding our business going forward".

He was speaking on Tuesday after the team announced improved profits.

"A core element of the strategy set out to investors in March was a partnership with a leading car manufacturer. Our new association with Jaguar Land Rover demonstrates the strategy is on track," Parr said in a statement.

He told the Telegraph: "Our plan is to develop a very strong relationship with JLR outside of formula one, to have a long-term partnership based around high-performance road cars.

"It will help us attract better people and to perform on the track as well as off," he added.

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