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Saturday, July 20, 2024

Porsche abandons talks with Red Bull on F1 2026 entry

Porsche AG has announced it will no longer enter Formula 1 with Red Bull GmbH in 2026 as previously discussed, due to the two companies unable to agree on ‘an equal footing’.

A statement from Porsche read; “In the course of the last few months, Dr. Ing. h.c. F. Porsche AG and Red Bull GmbH have held talks on the possibility of Porsche’s entry into Formula 1. The two companies have now jointly come to the conclusion that these talks will no longer be continued.

“The premise was always that a partnership would be based on an equal footing, which would include not only an engine partnership but also the team. This could not be achieved. With the finalised rule changes, the racing series nevertheless remains an attractive environment for Porsche, which will continue to be monitored.”

The initial idea was that Porsche would take a 50 percent shareholding in the Milton Keynes-based operation and would help development of the all-new engine that Red Bull is already working on through its powertrains division. However, it is understood that Red Bull has been reluctant to give up its full independence that has related to its success so far.

However, before the Italian Grand Prix Formula 1 CEO Stefano Domenicali spoke with foresight of other potential partners for Porsche if their was a fallout with Red Bull. He said: “There are also other manufacturers sitting at the table of the engineers who prefer not to come out into the open.”

Porsche and sister VW Group brand Audi were both due to enter F1 in 2026 under the next generation of power units and the push to focus on sustainable fuels.

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