It’s been widely rumoured that Audi and Porsche will enter Formula 1, and a recent report by Reuters (citing Business Insider) indicates that Volkswagen will soon permit its two subsidiaries to do so.

“We will hopefully be able to communicate our intention to enter into Formula One then,” a source told Business Insider, with another adding there was a “good chance” of a positive decision.

Both brands are said to join the motorsport via different methods, with Audi reportedly looking to offer around 500 million euros (around RM2.33 billion) to acquire the McLaren F1 team. Meanwhile, Porsche’s entry into Formula 1 will involve partnering with Red Bull Racing as an engine manufacturer. Parent company, Volkswagen, has never been involved in Formula 1, but has collaborated with Red Bull in the World Rally Championship.

Audi RS 3 LMS (2021)

With Formula 1 undergoing various changes and focusing more on sustainability, the sport’s new hybrid engine regulations (due in 2026) and the use of 100% sustainable fuels, there’s certainly an appeal for new manufacturers to make an entry.

As in the past months, we’ll have to wait for Volkswagen to officially confirm what’s being reported here. If true, we’ll finally see the Porsche name return for Formula 1 since 1991; Audi’s last Grand Prix outing was back in the 1930s, when it was then under Auto Union.