Formula One Welcomes Audi & Porsche To Join Its Races

Audi and Porsche, the Volkswagen Group’s luxury brands, will finally be making the step into Formula One after the German automaker was finally convinced the inclusion would help generate more income than the sport’s sky-high costs. 

According to CEO Herbert Diess, the board of directors of the two brands had been at an impasse due to conflicting ideas during discussions, but ultimately decided it would stand to benefit more with cars in the racing series than without. 

At the moment, as per Reuters, it appears that Porsche’s plans to enter the sport are more concrete than Audi’s, though the latter could offer over US$500 million to partner British carmaker McLaren as a means of entry. 

Porsche, on the other hand, could see itself teaming up in a long-term deal with current World Driver’s Championship holders Red Bull, whose prodigy driver Max Verstappen is contracted with all the way till 2028. 

There’s no doubt the incredible advertising power of Formula One was a big draw for the brands, especially as the racing series expands into the US market with three races in Miami, Texas, and Las Vegas beginning from 2023.

Of course, by expanding into the world’s premier racing competition, it does mean Porsche will be asked to dial back its investments in other activities to focus on Formula One, where the company believes the impact is greatest. 

[via Stuff and Reuters, cover image via Jonathan Weiss | Dreamstime.com and Lailoken123 | Dreamstime.com]