Barcelona: The spectacular setting of the Circuit de Catalunya near Barcelona was the venue on Sunday for the launch of what BAR Honda hope will be a Formula One World Championship challenger. The 'BAR Honda 007' was duly unveiled as the team gears up for the new season which begins with the Australian Grand Prix in Melbourne on March 6th. Last year was a very successful year for BAR Honda as they improved their position from fifth in the championship to a fantastic second place thanks to improved engineering standards, greater teamwork and Briton Jenson Button picking up 10 podium finishes including four second places. Man in chargeThere have been changes behind the scenes as well, as the new campaign sees a new man in charge. Nick Fry is now the CEO of the team, replacing former boss David Richards as Team Principal. Technical regulations now require the engine to last twice as long, tyres to last three times as long and aerodynamic downforce will be reduced by 25 per cent. However, Button believes the '007' can finally provide a credible challenge to the all-conquering Ferrari and Michael Schumacher. "I think it's really shown everyone in the team how serious BAR and Honda are in working toward their goal which is to be world champions. I don't think anyone really realised it. The aerodynamic changes that were made initially dropped us two seconds off of last year's pace," said Jenson Button, 2004 BAR driver. "We also have some difference in the tyres. We have to have one set of tyres for a whole race weekend and different regulations for the engine but even with all of that I think with the technology we've really progressed aerodynamically," added Jenson. Button drove to second place finishes in four races, six thirds and pole position in Ferrari's own back yard at Imola in 2004. He is still looking for his maiden F1 victory but, believes the new package is exactly what is needed to move up to the next level in 2005.