Volkswagen CEO Says Porsche & Audi Will Join F1

Syndication: DetroitFreePress
Dr. Herbert Diess, ceo of Volkswagen talks with the press after the 2020 Volkswagen Passat was revealed at the 2019 North American International Auto Show held at Cobo Center in downtown Detroit on Monday, Jan. 14, 2019. 011419 Vw Rb 020

Volkswagen’s major brands Audi and Porsche will join Formula One after persuading the German automaker that the move will generate more revenue than it costs, according to VW CEO Herbert Diess.

For months, rumors have circulated that the two brands were in talks to form a cooperation to compete in the world’s most prestigious motor racing series.

F1 has been dominated by Volkswagen’s German competitor Mercedes for much of the last decade, with super driver Lewis Hamilton recently securing many world championships.

ESPN has more here.