The car passed its crash test in January 2020 at Cranfield Impact Centre in Bedfordshire, England. Racing Point team principal Otmar Szafnauer described the car as an evolution of its previous contender, owing to the relative lack of change in the regulations for the 2020 season.
During 2020 Formula One pre-season testing, the car was nicknamed the "Pink Mercedes" and the team "Tracing Point" due to the RP20's apparent resemblance to the championship-winning Mercedes AMG F1 W10 EQ Power+ used by Mercedes during 2019. Racing Point's technical director Andrew Green stated that the car shares some resemblances in some areas with the Mercedes W10.
After the Styrian Grand Prix, Renault lodged a formal protest against the legality of the RP20, suggesting its brake ducts may be too similar to the Mercedes W10's. The FIA found the RP20 compliant with technical regulations but ruled that Racing Point had breached sporting regulations by basing the rear brake ducts on CAD drawings supplied by Mercedes, effectively making Mercedes the designers of the rear brake ducts. Racing Point was fined €400,000 and deducted 15 points from the Constructors' Championship.
The car was planned to make its competitive debut at the 2020 Australian Grand Prix, but this was delayed when most of the races originally planned for 2020 were cancelled or postponed in response to the COVID-19 pandemic. The RP20 made its debut at the 2020 Austrian Grand Prix, where Pérez and Stroll drove the car.
At the British Grand Prix, Pérez tested positive for COVID-19, preventing him from participating in both the British Grand Prix and the 70th Anniversary Grand Prix. Nico Hülkenberg served as a substitute driver for both events.
At the Italian Grand Prix, Stroll finished third, taking the team's first-ever podium. At the Eifel Grand Prix, Lance Stroll was unable to participate in qualifying and the race due to testing positive for coronavirus. Hülkenberg served as his substitute, finishing 8th after starting 20th.
At the Turkish Grand Prix, Stroll achieved the team's first-ever pole position, with teammate Pérez qualifying third. Pérez secured second place, while Stroll led early in the race but eventually dropped to ninth.
At the Sakhir Grand Prix, Pérez gave Racing Point their first win as a constructor and as a legal entity, while Stroll also finished on the podium with a 3rd-place finish.
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