In 1961 Porsche launched the Type 787. Ferdinand Alexander "Butzi" Porsche, the founder's grandson, was involved in the design of what would become Porsche's first Formula One car. The car had a new chassis that was longer than that of the 718/2 by an additional to accommodate the Type 753 flat-eight engine that was then in development. The 787 would not get the eight-cylinder though, continuing with the air-cooled, DOHC four-cylinder Type 547 boxer engine that had been developed by Ernst Fuhrmann and that had powered the 550 Spyders and 718 series until then. While it kept the 718/2's rear suspension of an upper A-arm and lower reversed A-arm with a radius rod and helical coil spring over damper units, at the front a new upper and lower A-arm suspension with coil-over damper units replaced the previous trailing arm and torsion bar system. The first chassis was completed in April 1961, and appeared at the Monaco Grand Prix shortly after. It was powered by a 547/3 four-cylinder engine with Kugelfischer fuel injection. At Monaco the car retired when the fuel injection cut out. A second car, also fitted with the 547/3 engine, was completed in time to appear in the Dutch Grand Prix on 22 May alongside the other 787. The cars placed tenth and eleventh. A single 787 was driven to an eighth-place finish at the non-World-Championship 1961 Solitude Grand Prix. This car was driven by Edgar Barth, and was fitted with Porsche's annular disk brakes. A 787 sponsored by Ecurie Maarsbergen and driven by Ben Pon raced in the 1962 Dutch Grand Prix. Pon retired after spinning off the course on lap two.