Audi, Porsche to join F1 | Inquirer Sports

Audi, Porsche to join F1

/ 06:53 PM May 02, 2022

Volkswagen

Volkswagen CEO Herbert Diess looks on during his visit to Volkswagen’s electric car plant in Zwickau, Germany, June 23, 2021. REUTERS/Matthias Rietschel/Files

BERLIN-Volkswagen’s premium brands Audi and Porsche have decided to join Formula One, Volkswagen Chief Executive Herbert Diess said on Monday.

There has been speculation for several months that the two brands were in negotiation over partnerships to enter the highest class of international motor racing.

Article continues after this advertisement

Diess, speaking on YouTube, said that Porsche’s preparations were a little more concrete.

FEATURED STORIES

The German carmaker, which has not previously been involved with Formula One but has worked with Red Bull in the world rally championship, did not announce how it planned on entering the sport.

Audi is ready to offer around 500 million euros ($556.30 million) for British luxury sports carmaker McLaren as a means to enter, a source told Reuters in March, while Porsche intends to establish a long-term partnership with racing team Red Bull starting in several years’ time.

Article continues after this advertisement

The decision comes as Volkswagen prepares for a possible listing of Porsche AG planned for the fourth quarter of this year, though sources have said the entry into Formula One racing would only be likely to happen in a few years’ time.

RELATED STORIES

F1: Struggling Mercedes could have upgrades for Miami

F1: Ferrari ‘won’t lose heart’ despite Imola setback

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: F1, Formula One

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.