VW CEO confirms Porsche and Audi will join F1

Confirming previous rumors and reports, Volkswagen’s Audi and Porsche brands will join Formula One, VW chief executive Herbert Diess said on Monday.

Diess said on Monday that Porsche’s preparations for entering Formula One were a little more concrete than Audi’s.

Audi is ready to offer around $556 million to buy British luxury sports car maker McLaren as a means to enter F1, but McLaren has balked at being bought out, so Audi is talking to other teams, while Porsche intends to establish a long-term partnership with racing team Red Bull starting 2026.

In addition to the brands’ economic argument, Formula One’s high advertising impact was apparently also convincing. Diess said that as a result, Porsche will reduce other racing activities and concentrate more on F1.

This could see Porsche pull out of Formula E where it has very little success, IMSA and/or WEC.