Volkswagen announces it will no longer participate in motorsports

In preparation to shift focus towards electric vehicles and the electric platform, largely in part of its Dieselgate settlement, Volkwagen is shaking things up and cutting costs across the board. The biggest change that the automaker announced is that it will be discontinuing the brand’s involvement in motorsport activities, racing included.

“The Volkswagen brand is on the way to becoming the leading provider for sustainable e-mobility. To this end, we are pooling our strengths and have decided to terminate the Volkswagen brand’s own motorsport activities. The motorsport workforce will be integrated in Volkswagen AG. The deep technical expertise of the motorsport employees and the know-how gained from the ID.R project will remain with the company and will help us put further efficient models from the ID. family on the road”, said Dr. Frank Welsch, Member of the Board of Management with responsibility for the Development Division.

Anexo plc (LON:ANX) is a specialist integrated credit hire and legal services group focused on providing replacement vehicles to consumers who have been involved in a non-fault accident.

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