Akebono, a specialist manufacturer of brakes, has extended and expanded its technical partnership with the McLaren Formula One team ahead of the 2014 season.

The company will now be designated as a technology partner of the British team, and will be working with McLaren on the design and integration of an all-new braking system to reflect the major changes to Formula One's technical regulations.

The company will also supply calipers and brake pads for McLaren's GT programme and will be the brake partner for the McLaren Group's P1 road car programme. The multi-faceted nature of the deal make it difficult to value, but the Formula One element is likely to be worth up to US$500,000, largely in kind.

“This is the third extension to our partnership with McLaren since we began the relationship back in 2007 and becoming a fully-integrated technology partner to McLaren Mercedes is another step in being recognised as the best brake manufacturer in the world," said Hisataka Nobumoto, the president and chief executive of Akebono.

Jonathan Neale, McLaren's chief operating officer, added: “Status of ‘technology partner’ at McLaren is not to be taken lightly – it is a mark of technical excellence and product performance – and is well deserved by Akebono which now supplies bespoke brake systems to all of McLaren’s race cars across Formula One and GT as well being the OEM [original equipment manufacturer] partner to the awe-inspiring McLaren P1.”

The McLaren Formula One team will continue testing its new car in Bahrain this week. The team will field Jenson Button and Danish debutant Kevin Magnussen this season, as it seeks to improve on last year's disappointing fifth place in the constructors' championship.