Ford is getting back into Formula 1 racing to help sell EVs
Ford is getting back into Formula 1 racing to help sell EVs
Feb 03, 2023 by CNN
Key Facts
- Following General Motors’ recent announcement that it’s applying, along with Andretti Global, to field a team in the prestigious racing series, Ford has now announced that it’s getting back into the sport to help build engines.
- Ford (F) and Red Bull will work to create new hybrid power units, which include an internal combustion engine and electric motor, to comply with new requirements for the 2026 racing season.
- Besides the ability to research electric drive systems, the growing American audience is a key reason Ford decided to get back into the sport, Farley said in an interview with CNN.
- Despite leaving the sport in 2004 after selling Jaguar Racing to Red Bull — Ford owned the Jaguar brand at the time — Ford remains the third most successful engine manufacturer in Formula 1 after Mercedes and Ferrari.
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