Porsche AG (Xetra : POR3) (FWB: POR3), a Germany-based automaker, is not planning to return to Formula 1 racing in the near future.
There were earlier reports that the automaker’s motorsports division had hired several new employees with Formula 1 experience, including BMW’s Fritz Enzinger and several mechanics and engineers from various teams.
Oliver Hilger, the head of Porsche’s motorsports department, stated that the automaker hired people from Formula 1 to introduce its new endurance racing programme.
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