Porsche confirmed on Friday that its talks with Red Bull concerning partnering in Formula One have come to an end after several months.
The iconic car manufacturer wants to enter the sport in 2026 after the new engine regulations are expected to come into play. According to ESPN, it had hoped of getting a 50% share in Red Bull Technologies—the parent company of the Formula One team that’s leading both championships this season. Red Bull, though, was reportedly hesitant of giving up some control of the team.
Although Red Bull reportedly offered the idea of investing in the company’s powertrains division, talks fell apart. Porsche said in a statement, “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 One. The two companies have now jointly come to the conclusion that these talks will no longer be continued.
