Porsche to quit WEC after 2017

Porsche to quit WEC after 2017

The World Endurance Championship is to lose another major competitor as Porsche is expected to announce its withdrawal imminently

Porsche will withdraw from the World Endurance Championship (WEC) at the end of this season.

German publication Frankfurter Allegemeine Zeitung reports that Porsche spends around £250 million each year on its WEC outfit. The manufacturer is expected to officially confirm its withdrawal from the championship, of which it has been a competitor since 2014, imminently. It’s not yet known if or how Porsche will invest the savings it will make from doing so.

Porsche’s Volkswagen Group stablemate Audi withdrew from the WEC last year as Volkswagen looked to cut costs amid ever-growing Dieselgate levies. The group, despite the continuing cost-cutting, posted increased profits this year.

It’s rumoured, although unconfirmed, that Porsche will enter the Formula E championship, with the interest of furthering its electric car development. Earlier this week, Mercedes withdrew from the German touring car championship (DTM) and announced its entry into Formula E from 2019.

Autocar is awaiting official confirmation from Porsche on this matter.

Read more:

Audi quits Le Mans and WEC for Formula E

Volkswagen Group profits continue to rise despite Dieselgate scandal

Mercedes to race in Formula E from 2019

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Source:: Autocar