GPWC

The Grand Prix World Championship, often abbreviated to GPWC, was a proposed alternative world championship auto racing series to rival Formula One. GPWC has been superseded by the Grand Prix Manufacturers’ Association.GPWC Holdings consisted of (and GPMA originally consisted of) Mercedes-Benz, BMW, Renault, Honda and Toyota, five of F1's biggest players. The GPWC was created as a tool to assist the companies in bargaining with Bernie Ecclestone for an agreeable extension to the 1997 Concorde Agreement, the contract by whose terms the teams compete in F1.
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