• Sun. Jan 29th, 2023

Audi Jumps Formula Bandwagon To Take On Mercedes-Benz – Volkswagen (OTC:VWAGY), Volkswagen (OTC:VWAPY)

ByAnusuya Lahiri

Oct 26, 2022
Audi Jumps Formula Bandwagon To Take On Mercedes-Benz - Volkswagen (OTC:VWAGY), Volkswagen (OTC:VWAPY)

  • Volkswagen AG’s VWAGY VWAPY Audi chose Sauber as a strategic partner for the project and plans to acquire a stake in the Sauber Group. 
  • The partnership will see the traditional Swiss racing team competing as the Audi factory team from 2026 onwards, using the power unit developed by Audi for the pinnacle of motorsport.
  • VW CEO Herbert Diess said becoming part of F1 was the most critical lever to boost brand value for Audi and Porsche, Bloomberg reports.
  • VW jumped the F1 bandwagon after the franchise decided to turn carbon neutral by 2030 while using synthetic fuels from 2026, as VW pursued the industry’s most significant electrification push
  • As of May, Audi was ready to dole €500 million ($556.30 million) for British luxury sports carmaker McLaren as a means to enter, while Porsche planned a long-term partnership with the racing team Red Bull.
  • The technology change is a unique opportunity to start competing in the franchise ruled by Mercedes-Benz Group AG DMLRY.
  • With three decades of competitive experience, Sauber is one of the most renowned and traditional teams in Formula 1.
  • While Audi creates the power unit at Audi’s Motorsport Competence Center in Neuburg an der Donau, Sauber will develop and manufacture the race car at its site in Hinwil (Switzerland). 
  • They look to start racing by 2026. 
  • More than 120 employees are working on the project.



Image and article originally from www.benzinga.com. Read the original article here.