Porsche will "abandon the top tier" of the 24-hour Le Mans race to join Formula E, in the "latest sign of the importance of next generation car technology," according to Ahmed & Campbell of the FINANCIAL TIMES. At the end of this season, the group will end its involvement in the “LMP1” class of the World Endurance Championship. Instead, the German carmaker will "shift gears, abandoning the world’s longest-running endurance car event in order to compete in Formula E." The switch is a "significant milestone" for Porsche, which has "long used motorsport as a testing ground to develop roadcars." Porsche CEO Oliver Blume said that the electric car competition was "a perfect environment for advancing our cars in terms of economy, efficiency and sustainability." He added that Formula E is a "perfect fit for the Porsche product strategy." Porsche spent €2.21B in research and development last year and is focused on developing its “Mission E” concept car, a battery-powered sports vehicle due to go on sale in '19 (FT, 7/27). REUTERS' Sheahan & Baldwin reported the announcement had been "widely expected" in the motorsport world and came after Mercedes confirmed last Monday its move into Formula E and exit from the German Touring Car (DTM) championship. Other manufacturers already involved in the electric series include BMW, Renault, Jaguar, Citroen and India's Mahindra. The arrival of Mercedes and Porsche in the series for season six, which starts in '19 and ends in '20, will take the number of Formula E teams to 12. FIA President Jean Todt said, "I'm very happy that Porsche is coming to Formula E, but I regret their decision to leave the World Endurance Championship" (REUTERS, 7/28).
TOO SOON TO TELL: The AFP reported Mercedes F1 team execs said that Formula E is "on the rise but it is too soon to envisage Mercedes switching" from F1 to the electric racing series. Mercedes F1 Chair Niki Lauda said that F1 remains Mercedes' "priority." He said, "Formula 1 is our racing sport so an exit is not an issue at all" (AFP, 7/30).
