Porsche has scrapped plans to enter Formula 1 with Red Bull – but is still eyeing a place on the grid as the sport “remains an attractive environment”.
Today it confirmed that discussions with Red Bull regarding a potential F1 entry “will no longer be continued”.
The German company said in a statement: “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.”
Porsche was previously rumoured to be purchasing a 50% stake in Red Bull’s Technology division following the publication of legal documents as part of anti-monopoly checks.
This would have set Porsche up to be an engine supplier in F1 from 2026, when new power unit regulations come into effect.
The new rules include the removal of the MGU-H – which generates electricity from waste heat – and an increase to electrical power output from the 120kW (161bhp) currently to “around 350kW” (469bhp).
They also mandate the use of fully sustainable e-fuels derived from waste, non-food sources, or the atmosphere.
This is likely to be why Porsche is exploring an F1 entry: Autocar reported in March 2021 that the firm’s R&D boss, Michael Steiner, believed that e-fuels could give internal-combustion cars a lifeline beyond the 2030 moratorium on sales of new pure-petrol and diesel cars.
In April 2022, Porsche acquired a 12.5% stake in synthetic fuel manufacturer HIF Global at a cost of £57 million, signalling its continued investment in the technology.
Porsche sibling brand Audi recently announced it will enter F1 in 2026 with its own powertrain. It has been widely reported that it has agreed an alliance with Swiss team Sauber, pending official confirmation.