Audi is set to enter Formula 1 in 2026 in a partnership with current team Sauber.
The automaker purchased a minority stake in the Swiss F1 team early last year, but is now reportedly planning a full takeover.
Citing people familiar with the matter, Bloomberg reported on Wednesday that Audi originally planned to slowly increase its stake in Sauber to a maximum 70%, but under the guidance of new CEO Gernot Döllner, who took over the reins at Audi last fall, the plan has changed to full ownership.
Sauber's current main shareholder is Longbow Finance, a Swiss investment firm that purchased the team in 2016 from founder Peter Sauber and fellow key shareholder Monisha Kaltenborn.
After its deal with Alfa Romeo ended last year, Sauber will compete in F1 this season under its own name. The team's name will be changed to Audi in 2026, when it becomes the official factory team of the automaker.
Audi has established the new company Audi Formula Racing based in Germany to oversee the F1 program. Audi Formula Racing has also been charged with developing the new power unit the team will use beginning in 2026.
According to Bloomberg's sources, current Audi R&D chief Oliver Hoffmann will oversee the F1 project while a successor for the R&D chief role is still being decided.
Fellow Volkswagen Group brand Porsche was also exploring entering F1 with its own power unit and possibly a factory team. Porsche was in negotiations with Red Bull Racing, though the talks ended in 2022 without a deal being brokered. Porsche said at the time it remains open to an F1 entry should the right opportunity arise.
Cadillac is also looking to form an F1 entry with Andretti Global, the parent company of Andretti Autosport. Their bid for an entry by 2025, using Renault power units, was rejected, but there's still a chance of an entry by 2028, when General Motors would be able to supply its own power unit for the team.
