Berlin - Porsche and Red Bull have ended talks over Porsche joining Formula One, but the German sports car brand remains interested in entering the racing series, it said on Friday.
"The two companies have now jointly come to the conclusion that these talks will no longer be continued," Porsche AG said in a statement.
Volkswagen's former chief Herbert Diess said in May its Porsche and Audi brands would join Formula One, long dominated by the carmaker's German rival Mercedes-Benz .
Media reports had suggested long-standing talks between Porsche and Red Bull were stalling due to a gap between how much control Porsche wanted and what Red Bull was prepared to give.
Red Bull principal Christian Horner ruled out a Porsche takeover last Friday and said any partnership would have to be on the Formula One team's terms.
"The premise (of discussions) was always a partnership on eye-level, which would include the team alongside a motoring partnership. This could not be realised," Porsche's statement said.
"With the changes to regulation, the racing series remains an attractive prospect for Porsche which we will continue to monitor," the statement added.
Formula One's governing body in August approved engine regulations for 2026, significantly increasing electrical power, using 100% sustainable fuels and removing the current Motor Generator Unit Heat (MGU-H) element, reportedly a pre-requisite for the Volkswagen Group brands to come in.
Audi announced in August that it would build an engine in Germany and enter in 2026 with an existing team, likely to be Sauber, and the sport has been waiting for Porsche's move.
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Reuters