Porsche and Audi will be part of the Formula 1 in 2026, Volkswagen Group’s CEO announced Monday at an event in Wolfsburg, Germany. Both the automobile manufacturers have long hinted their interest in joining the international racing.

Herbert Diess confirmed that both Audi and Porsche had received approval for the Volkswagen Group to enter Formula 1, Reuters reported.

“Formula 1 is developing extremely positively worldwide,” Diess said. “The marketing that is happening there, plus Netflix, has led to Formula 1’s following growing significantly in the U.S. as well. Asia is growing significantly, including among young customer groups. If you look at the major sporting events or events in the world, it’s the case that in motorsport, it’s really only Formula 1 that counts and is becoming increasingly differentiated.”

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No details were provided as to how the two brands will enter the sport. There have been rumors previously hinting that Audi was working on purchasing an existing team—either McLaren or Sauber—while Porsche plans to enter as an engine manufacturer, with Red Bull named as a possible partner. However, there is no confirmation so far.

Diess also said that Formula 1’s rule changes planned for 2026 that will allow bringing new cars and engines that will run on a fully sustainable synthetic fuel could be one of the optimal times for the two brands to enter the ring.

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“If you do motorsport, you should do Formula 1 as that’s where the impact is greatest. What’s more, you can’t enter Formula 1 unless a technology window opens up which means, in order to get in there, a rule change: so that everyone starts again from the same place,” Diess said. 

“As Markus Duesman [chairman of Audi and former BMW F1 head of powertrains] always tells me, you usually make up one second per season on a medium-sized race track simply by optimising details… But you can’t catch up on that when you join a new team: you need five or 10 years to be among the front runners. In other words, you can only get onboard if you have a major rule change.”

“That’s coming now, and it will also come in the direction of 2026, when the engines will be electrified to a much greater extent, including with synthetic fuels. That means you need a new engine development and you need three or four years to develop a new engine,” he added.

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While there has been no official confirmation from Formula 1 that Audi and Porsche will be joining the grid, Diess’ statement offers is the closest thing yet in a long line of growing rumors.