The chassis was designed by Rory Byrne, Giorgio Ascanelli, Aldo Costa, Marco Fainello, Nikolas Tombazis and James Allison with Ross Brawn playing a vital role in leading the production of the car as the team's Technical Director and Paolo Martinelli assisted by Giles Simon leading the engine design and operations.

It also featured improved aerodynamics over the F399 most noticeably a flatter underside of the nose area, which put it on par with that year's McLaren MP4/15.

[5] Andrew Benson of BBC Sport stated that McLaren had the best and fastest car for the third straight year, concluding that the "F1-2000 was not quite a match for the McLaren-Mercedes MP4/15, but in Schumacher's hands it was close enough, and on occasions plainly faster".

[7] It also defended Ferrari's constructors' crown, and signified the start of the team's dominance throughout the first half of the decade.

[8] Ferrari used the Marlboro logos, except at the British, French and United States Grands Prix due to a ban on tobacco advertising in those countries.