Audi and Porsche announce Formula One involvement
Written by Cameron Gale, Edited by Sasha Macmillen
In a spectacular turn of events, Audi and Porsche have decided to enter Formula one in the next couple of years.
There has been speculation for months that the German carmakers were going to enter Formula One in a couple of years' time, but we were all unsure when. Today the CEO of Volkswagen stated:' Porsche’s preparations were a little more concrete'.
The German carmaker, who has not previously been involved in Formula One but has worked with Red Bull in the World Rally Championship, did not announce how it planned to enter the sport.
Audi is reportedly ready to offer McLaren 500 million euros as a means to enter. However, Porsche intends to establish a long term connection with Red Bull starting in several years’ time.
The decision came as Volkswagen prepares for a possible listing of Porsche AG planned for late this year. The entry into Formula One would only be likely to happen in a few years' time.