Porsche pulls out of Formula One

Porsche has announced that all discussions with Red Bull about the possibility of the German carmaker's entry into Formula One will no longer be continued. Porsche has cited the reason being that the premise was to have a partnership based on an equal footing, which would include not only an engine partnership but also the team.

Despite these factors not being able to be achieved, fans of Porsche need not lose hope for the brand to potentially enter Formula One in the future. The German carmaker has stated that Formula One remains as 'an attractive environment' which will 'continue to be monitored'.