After all, Porsche will not enter Formula 1 with Red Bull.
Porsche was expected to buy 50% of the Red Bull F1 team and 50% of Powertrains, Red Bull’s new powertrain manufacturer, according to to a Financial Times report – but the couple couldn’t get to one approval.
“The premise was always that a partnership would build on that Equal rightswhich would not only include an engine partnership, but also the team,” said Porsche read. “That could not be achieved.”
Red Bull’s investors were reportedly unwilling to sell a stake in the team.
- Bloomberg reported in July that Porsche and Red Bull couldn’t decide how much technology would be made available to them Oracle Red Bull Racing compared to the sister team AlphaTauri.
- The sides also feuded over the authority to nominate drivers for a joint racing team.
But Porsche isn’t ready to stop Formula 1 just yet.
“Nevertheless, the racing series remains one attractive environment for Porsche,” the statement said.
The message comes shortly afterwards Audi — which parent company Volkswagen shares with Porsche — announced plans to enter F1 in 2026 as an engine instructor.
Porsche’s public plans
Volkswagen announced plans earlier this month to take Porsche public through an IPO that could give the brand an interim valuation $59.4 billion and $84.2 billion.
Volkswagen would offer 12.5% of Porsche, which has the potential to raise more than $10 billion.
