German media reports discussions are at an advanced stage for Audi and Porsche to enter F1 in a couple of years.
The Volkswagen Group supervisory board could decide next month whether its Audi and Porsche subsidiaries should compete in Formula One, German business paper Frankfurter Allgemeine Zeitung (FAZ) reported.
It would be costly but would give the two brands increased marketing exposure in key Asian markets including China and to a growing audience in the U.S. Audi CEO Markus Duesmann and Porsche boss Oliver Blume are keen to join the competition, the paper said.
F1 boss Stefano Domenicali, a former VW Group executive and head of its Lamborghini supercar brand which races in sports categories, is pressing the automaker’s board for a decision soon so he can conclude lucrative TV marketing contracts.
VW Group’s supervisory board will discuss the matter at the end of February, FAZ said, adding that group CEO Herbert Diess has long been considered a proponent of entry into F1. The racing series is moving to become CO2-neutral from 2026 onward, using electrified powertrains and synthetic fuels and the two premium brands would be able to justify from a sustainability perspective.
According to information from the FAZ report, Audi and Porsche want to jointly develop a F1 powertrain to save costs and would compete with their own racing teams.
Negotiations with the McLaren and Red Bull racing teams are at an advanced stage said the paper. These involve a purchase offer for McLaren by Audi and close Porsche cooperation with Red Bull.