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Audi and Porsche to enter Formula 1

GERMAN car companies Audi and Porsche have decided to enter Formula 1, the boss of their parent group Volkswagen said on Monday.

VW chief executive Herbert Diess said discussions about F1 at board level had created divisions within the group.

He said Audi and Porsche bosses, whose brands are VW’s biggest income generators, argued entering F1 would bring in more money than not doing so.

“You just run out of arguments [against it],” Diess said.

Speaking at an event in Wolfsburg, where VW is based, Diess added that Porsche’s preparations were more concrete than Audi’s, without specifying details.

Porsche is said by F1 insiders to be preparing an alliance with Red Bull.

Porsche would partner with the team’s new engine division, which has been set up to design and build the drinks brand’s own power-unit for the new engine regulations due in F1 in 2026, and the team would run as Red Bull-Porsche. –