Field Level Media
31 Jan 2023, 04:55 GMT+10
Audi took a step in its plan to put a Formula One team on the course by 2026 with the acquisition of a minority stake in the Sauber team.
Sauber announced Monday that Audi purchased part of the team this month but didn't provide any terms.
Audi announced its plans last fall to enter the F1 circuit. The German automaker is currently developing its F1 engine and will build its own power units for its autos.
Sauber currently competes under the Alfa Romeo banner and uses Ferrari power units, but a deal between the two sides expires at the end of the upcoming season.
"This is an important milestone on the way to Audi's entry in Formula One, scheduled for 2026, for which the Sauber Group will be the German brand's strategic partner," a news release read.
Valtteri Bottas and Zhou Guanyu will return to drive for the team in 2023.
--Field Level Media
Get a daily dose of Germany Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Germany Sun.
More InformationLONDON, England: During a Bloomberg conference held in London this week, Luke Ellis, CEO of hedge fund Man Group, said ...
LONDON, England: Despite rising air fares, a potential global economic recession and risks of gridlock at some airports in Europe ...
FRANKFURT, Germany: The German Automobilwoche magazine has reported that as part of its efforts to switch to selling electric vehicles ...
Mumbai (Maharashtra) [India], March 25 (ANI): State-owned Bank of Baroda announced that it is providing a range of solutions to ...
U.N. Secretary-General Antonio Guterres brought an urgent climate message to the European Union summit Thursday in Brussels, encouraging leaders of ...
Bosnia's autonomous Serb Republic has moved towards criminalizing acts of defamation and insult despite international criticism and protests by journalists ...
DUBLIN, Ireland: Local authorities throughout Ireland are set to spend 350 million euros to house the country's homeless in 2023, ...
LONDON, England: Despite rising air fares, a potential global economic recession and risks of gridlock at some airports in Europe ...
DUBLIN, Ireland: Ireland's life expectancy has seen the greatest gains among all EU nations, according to one of the country's ...
PARIS, France: Amidst the mass deaths of dolphins and porpoises in recent years, France's highest administrative body has ordered the ...
BRUSSELS, Belgium: While chairing a meeting of EU foreign and defense ministers in Brussels this week, European Union (EU) foreign ...
DUBLIN, Ireland: Ireland's Department of Justice has acknowledged that it would arrest Russian President Vladimir Putin on charges of war ...