Volkswagen's premium brands Audi and Porsche have decided to join Formula 1, Volkswagen Chief Executive Herbert Diess confirmed on Monday. There has been speculation for several months that the two brands were in negotiation over partnerships to enter the highest class of international motor racing. Diess, speaking on YouTube, said that Porsche's preparations were a little more concrete. The German carmaker, which has not previously been involved with Formula 1 but has worked with Red Bull in the world rally championship, did not announce how it planned on entering the sport. read more Audi is ready to offer around 500 million euros ($556.30 million) for British luxury sports carmaker...
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