A logo of Audi is seen outside an Audi car dealer in Brussels, Belgium March 13, 2023.
REUTERS/Yves Herman/File Photo Acquire Licensing RightsBERLIN, Oct 26 (Reuters) - Audi has placed its plans to enter Formula One under review, German news outlet Spiegel reported on Thursday.
Citing sources at parent company Volkswagen (VOWG_p.DE), Spiegel said the plans were being "analysed in detail" in the wake of a management change and cost-cutting measures.
Asked for official comment by Spiegel, Audi said the plan for Formula One entry had been agreed by its management and supervisory boards as well as its parent company, and that the timetable remained unchanged.
Audi announced last year that it would enter Formula One from 2026 with one of the sport's existing teams and using a new power unit to be built in Germany.
Persons:
Yves Herman, Spiegel, Audi, Markus Duesmann, Duesmann, Gernot Doellner, Friederike Heine, Miranda Murray
Organizations:
Audi, REUTERS, Rights, Formula, Spiegel, Volkswagen, Thomson
Locations:
Brussels, Belgium, Germany