Unconvinced by the performance of the Fondmetal Fomet-1 during the 1991 Formula One season, Fondmetal's boss Gabriele Rumi ended his association with that car's designers. After initially negotiating with Tom Walkinshaw Racing, Rumi eventually gave the contract to Sergio Rinland's Astauto studio; Rinland had previously worked on the Brabham BT60, and the GR02 project was Astauto's first. However, this change came too late for a new car to be ready for the start of the 1992 Formula One season and the Fomet-1 was duly updated into the GR01. Both the GR01 and GR02, however, were to ditch the old Cosworth DFR V8 engine found in the Fomet-1 and replace it with a Ford "HBA5" V8 instead, resulting in a useful power increase of over . Development on the GR02 began at the start of 1992, and the first prototype ran at Ferrari's Fiorano test track in May 1992. The GR02 had simpler mechanical components than the BT60 had, with a Xtrac gearbox and twin shock absorbers both front and rear. The aerodynamics, however, were less conventional; it featured a chiselled nosecone, and an anhedral front wing assembly, with the latter being designed to channel air around the floor and diffuser. The GR02 was first ready to race at the 1992 Canadian Grand Prix and soon drew praise from the press; Autosport stated that the car was "a huge step forward for a team which was once the joke of the F1 paddock", whilst BBC's commentator Murray Walker stated that it was an "Excellent car, very good looking car, good performance but still a lot of development to do." However, the car was insufficiently tested, and, although it showed good pace, it was plagued by reliability issues. After Fondmetal folded, it was rumoured that the GR02 had been redeveloped for Forti Corse into their FG01 effort in 1995.