The first car named the Stewart SF01 was launched on 19 December 1996. With backing from Ford, Stewart GP entered the 1997 Australian Grand Prix with drivers Rubens Barrichello and Jan Magnussen. The only success of their first year came at the rain-affected where Barrichello finished second. Magnussen in the second car finished just outside the points in 7th after losing his front wing at the chicane. Elsewhere, the cars were consistent midfield runners and Barrichello was often in a position to challenge for points. Stewart's reliability was poor, as the Ford Zetec-R V10 engine installed in the SF01 chassis proved to be extremely fragile. This restricted the team to just eight classified finishes out of a possible thirty-four.