Porsche does not see any major economic risk in the event of entering Formula 1, the company boss gives their thoughts about the sport and details plan to enter F1.
Porsche’s boss was “confident that it could be profitable”, Porsche CEO Oliver Blume told the Frankfurter Allgemeine Zeitung last Friday. The carmaker has been considering a commitment to the racing series for some time. The aim is to start with the 2026 season, when a new set of rules takes effect. Then the hybrid engines are to run on 100 per cent sustainable fuel.
The combustion engine in the power unit is to contribute only 50 per cent of the power, with the rest coming from electric drive. This fits in with the future direction of the car industry say car makers.
“We welcome the draft regulations,” said Porsche boss Blume. He added that this gives an entry opportunity, which only happens once every ten years.
“And if we get involved in the top class of racing, then it will be with a strong partner,” added CFO Lutz Meschke in the FAZ. This website understands that Porsche will join the Austrian Red Bull team led by world champion Max Verstappen, and Audi will buy Sauber and become a works outfit.
Recently, however, talks with the world governing body FIA on the concrete details of the new regulations have faltered. It is expected that the negotiations will be concluded in the summer and that Porsche and its sister company Audi will then substantiate their Formula 1 plan.
Porsche boss Blume justified the interest with the growing success of the ‘pinnacle of motorsport’.
“Last year, more than 1.5 billion TV viewers watched Formula 1,” he said. In the digital channels, the racing series is “the sport that is gaining the most interest”, Blume added.
For him, Formula 1 is in the same league as the Football Champions League, the Olympic Games or the Football World Cup.
Porsche and Audi are part of the VW-stable. Surely at some stage there will be a conflict of interest in the group? 🤔