Mercedes to hold a meeting that will decide its Formula 1 future

© Daimler AG

According to reports Mercedes’ parent company Daimler will hold a meeting on February 12th to decide its Formula 1 future.

According to a report by RaceFans.net and Autocar.co.uk, Daimler is looking to decrease spending, “redirect research and development investment to road car technologies and alleviate pressure to reduce its carbon footprint.”

Since a departure from Formula 1 has to be announced at least nine months in advance, Daimler is under pressure to sign the new Concorde Agreement and confirm its F1 future. Although no decision has been made as of yet, the German company will have to announce its plans very soon if they are to leave by the end of 2020.

Mercedes’ involvement in Formula 1 since the company reentered the sport in 2010 has been extremely successful. The team won every constructors’ and drivers’ championship since 2014, however some reportedly still perceive F1 as “extravagance”, especially considering Daimler plans to “lay off over 10,000 staff”.

Regardless of Daimler’s decision, Mercedes’ successful engine plant in Brixworth will continue to supply engines to other teams.

If Daimler decides to pull out of Formula 1 as a works team, that will severely shake up the sport and the drivers market. One of the rumours suggests that Mercedes’ current team principal Toto Wolff might be working with Racing Point owner Lawrence Stroll on a deal that would see the German team rebranded as Aston Martin in 2021. However these are nothing but rumours at this point.

We will provide more on this story as it becomes available.

Source: racefans.net, autocar.co.uk

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