A "B Specification" car named the Jaguar R3B made its debut at the 2002 British Grand Prix and used for the remainder of the 2002 season.

The team admitted to making a lot of mistakes especially in the wind tunnel, as its calculations were wrong.

After a fortuitous fourth place at the attritional Australian Grand Prix, the car's poor reliability and lack of horsepower began to show and the team slipped down the rankings; however, towards the end of the season updates were brought in and the car began to improve, culminating in Irvine scoring the team's final podium finish at Monza.

The 007 logos featured on the side mirrors, denoting the film Die Another Day.

One of the R3s is still driven in competition regularly by Riccardo Ponzio in BOSS GP, who competed in 2021 season in the Open class.