Very nice! That is a Micro Scalextric car - or rather a Scalextric Micro MR1 car - from 1994. The chassis is the original MR-1 version that Scalextric released when Scalextric Micro was launched in February 1994 - 25 years ago. Although the MR-1 chassis and track system was changed a year later to the Micro Scalextric system we know today, some MR-1 cars like this Sasol Jordan was available individually for a few more years.
The car will run on Micro Scalextric track or you can swap the body onto the current ‘narrow’ Micro Scalextric F1 chassis. Spares for the MR-1 cars are getting hard to find. That car in good used condition is worth in the region of £25 to £40. I really like these 1990s Micro Scalextric F1s - I have them all :-)
If you want to read more about the early Micro Scalextric history, there’s this article: http://ho-uk.org.uk/articles/micro-scalextric-history-part-1
There is also this complete listing of all Micro Scalextric sets and non-set cars released between 1994 and 2014: http://www.microscalextric.wickedlemon.co.uk/