The car was a clear development from the M01 featuring new pointed nose cone, compact sides and high exhausts.

[5] Reigning Euro Open by Nissan champion Fernando Alonso was the teams test driver.

[6][7] Ahead of the European Grand Prix at the Nurburgring, Giorgio Vinella was recruited as an additional test driver to support development of the M02.

[9][10] Testing work began on the car in January with Gene and Mazzacane running new parts on the M01 chassis at Fiorano Circuit.

In February, Minardi joined tests at Barcelona and showed good pace, Gene securing a fastest lap time of the week that put him in 9th place overall, ahead of Jordan, Jaguar and Prost.

Sponsor PSN were announced as purchasing this in September 2000, which would have tied in with their driver Mazzacane remaining with the team.

[24](key) (results in bold indicate pole position) * Denotes Cosworth-built engines, badged as Fondmetal.