Audi is to promote a stake in its Components 1 entry to Qatar’s sovereign wealth fund, QIA.
An announcement from the German automobile firm mentioned the Gulf state would purchase a “important minority” within the crew, which is getting into F1 in 2026.
The deal shall be accomplished subsequent yr, after Audi has taken full possession of the Sauber crew that’s the foundation for its entry.
Qatar is the third largest shareholder within the Volkswagen Group, Audi’s mum or dad firm.
An announcement from Audi mentioned Qatar’s funding would “present a considerable capital injection and pave the way in which for growing infrastructure and crew buildout, positioning the crew for long-term success in Components 1”.
The deal is claimed to not be associated to monetary issues being suffered by the broader Audi firm.
In November, Audi reported a 91% stoop in earnings on the again of Chinese language gross sales collapsing, amid a 42% drop in income for VW.
Audi chief government officer Gernot Dollner mentioned: “The funding by QIA displays the belief and confidence the Audi F1 Mission has already garnered, underscoring unwavering dedication of Audi to the initiative.
“This extra capital will speed up the crew’s development and is one more milestone on our long-term technique.”
Mohammed Al-Sowaidi, the chief government officer of QIA, mentioned: “As a long-standing investor within the Volkswagen Group, we consider in Audi’s imaginative and prescient and course when getting into F1 and our funding will assist the realisation of this purpose.
“QIA believes that Components 1 is a sport with important untapped funding potential.”
