German automaker BMW has no plans to chart a return to Formula 1 racing, it told Autosport in a statement. “When we decided to pull out of Formula 1 in 2009 it was a long-term strategic decision of the company,” BMW said.

“We wanted to put some of the F1 resources into the research and development of alternative powertrain solutions – and so BMW did. We established ourselves as the leading premium car manufacturer in the field of electric mobility. We are watching the developments in the world of motorsport, but currently we have no plans to re-enter Formula 1,” the German automaker stated.

It currently operates racing programmes in DTM (German Touring Car Championship) and in GT racing, with a return to Le Mans in the GT Endurance class set for 2018. The German marque is also partnered with the Andretti team in Formula E, and is considering making a full entry in the electric racing series for the 2018-2019 season, according to motorsport.com.

Former F1 entrant Ford also denied intentions of a return to the premier open-wheel series, citing costs as the main deterrent. “Formula 1 is so expensive. If you look at every series we are in right now there is a relevance to all the goals and objectives we have, in developing our tools, technology and people and translating that into road cars. Every series that we’re in has an element of that,” the American carmaker said.

The Blue Oval continues to have a strong presence in racing, running in the GT Endurance class at the World Endurance Championship and in the World Rally Championship, where it has gotten off to a great start for the 2017 season.