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Porsche Dumps World Endurance Cup!
Porsche AG (P911.DE)* said this morning will in future focus on two factory projects in motorsport. Porsche Motorsport will run the Porsche 99X Electric in the ABB FIA Formula E World Championship. Porsche will also run 963 in the North American IMSA WeatherTech series SportsCar Championship. The surprise move abandons some racing that Porsche was long involved with. Porsche Penske Motorsport will end its involvement in the FIA World Endurance Championship (WEC) at the end of the current season. (However, the cost of new model introductions as well as Trump’s tariff wars and formidable Chinese competition on EVs, dividends for shareholders no doubt weighed heavily on the retreat – AutoCrat.)**
“We very much regret that, due to the current circumstances, we will not be continuing our involvement in the WEC after this season,” said Dr Michael Steiner, Deputy Chairman and Member of the Executive Board Research and Development, Porsche AG. Steiner has been at Porsche since 2002 after leaving Daimler AG. Continue reading →