Porsche

VW chief confirms Porsche, Audi to enter Formula 1

Last updated : May 04, 2022 19:05
SportzPower Team
May 03, 2022 17:05

BERLIN: German luxury car brands Audi and Porsche will be entering Formula 1, after convincing the board of parent company Volkswagen that the move will bring in more money than it will cost, VW chief executive Herbert Diess said on Monday.

The two marquee badges, which next to VW’s China business are the group’s most important profit generators, made their case after several months of speculation that such a move was in the works.

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