Volkswagen to give a go-ahead for Audi, Porsche’s foray into F1: Report

Volkswagen to give a go-ahead for Audi, Porsche’s foray into F1: Report

by Pranali Mehta

Audi and Porsche might finally receive a green light from its parent Volkswagen to venture into Formula One motor racing.

For a while now, there have been talks of Porsche and Audi teaming up with existing F1 teams to mark their entry into the highest class of motorsports. Sources close to the matter stated that there is a good chance for a “positive decision”, although Volkswagen is yet to comment on the matter.

Based on recent developments, it is worth noting that both Audi and McLaren declined reports last year that a potential partnership between the two had been formed. Audi is speculated to offer approximately USD 556.30 million for McLaren, while Porsche is looking to establish a long-term partnership with Red Bull Racing.

But McLaren Racing CEO Zak Brown has mentioned that the F1 team is not for sale and is not looking for any equity partners as well. Although there have been some preliminary conversations with Volkswagen in the past, nothing has been finalized yet, he claimed.

While Volkswagen is yet to mark its entry in Formula 1, the automaker has been working with Red Bull Racing in other motorsports, especially in world rally championships.

Back in November, it was found that Volkswagen’s decision to foray into Formula One will depend on motorsport’s plans to switch to synthetic fuels by the year 2026. The ultimate decision will also be based on McLaren’s push toward electrification.

Speaking of Volkswagen, the German automotive giant has been making significant investments in its electrification efforts, an attempt that experts believe is to clean up its image from the Dieselgate scandal.

A move into F1 also comes as Volkswagen is found to be grappling with uncertainty over the Russia-Ukraine conflict which has notably affected its finances and operations.

Source Credits –

https://auto.hindustantimes.com/auto/news/volkswagen-to-allow-audi-porsche-to-enter-formula-one-report-41648725909542.html

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta dutifully walked down the slated path and worked in a chemical firm for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience in content writ Read more...