After all, Porsche will not enter Formula 1 with Red Bull.
“The principle has always been that a partnership would be based on on an equal footingwhich would include not only an engine partnership but also the team,” said Porsche. bed. “It could not be achieved.”
Red Bull investors were apparently unwilling to sell a stake in the team.
- Bloomberg reported in July that Porsche and Red Bull could not decide how much technology would be provided to Oracle Red Bull Racing compared to the sister team Alpha Tauri.
- The parties were also in dispute over the power to nominate drivers for a joint racing team.
But Porsche is not ready to give up Formula 1.
“The racing series nevertheless remains a attractive environment for Porsche,” the statement read.
The news comes soon after Audi — which shares parent company Volkswagen with Porsche — announcement plans to join F1 in 2026 as a power unit instructor.
Porsche’s public plans
volkswagen announcement plans earlier this month to take Porsche public through an IPO that could add value to the brand between $59.4 billion and $84.2 billion.
Volkswagen would offer 12.5% of Porsche, which has the potential to raise more than $10 billion.