The B34 was designed in 1975 as a Formula Atlantic racing car, but when the 1976 Formula 3 European Championship was held with more races than in 1975, it was decided in the winter of 1975/1976 to convert the B34 to Formula 3. The first runs with a test car were successful and Derek Bennett consistently developed the racing car further. Unlike the Formula Atlantic car, which was powered by a Hart engine, the Formula 3 car had a Toyota power unit. Chevron built 33 versions of the well-developed B34 chassis. This, in turn, naturally tempted many drivers, most of which achieved great success with the car.[3]
The factory supported the Italian Trivellato team in the European championship and Riccardo Patrese became the European Formula 3 champion with victories in Zandvoort, Enna, Monza, and Kassel-Calden with the B34. Rupert Keegan and Geoff Lees both celebrated victories in the British Formula 3 Championship and the B34 became one of the best-selling Chevron racing cars ever. It was eventually succeeded by the Chevron B38, in 1977.[4]