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VW chief: Audi and Porsche will join F1

Volkswagen's premium brands Audi and Porsche will join Formula 1 after convincing the German auto-making group that the move will bring in more money than it will cost, VW chief executive Herbert Diess says. Discussions by the board of directors about the two brands' plans had created some divisions, said Diess on Monday at an event in Wolfsburg, where the German carmaker is headquartered. But ultimately the brands, which next to VW's China business are the group's most important income suppliers, made the case that they would pull in more money for Wolfsburg with a Formula 1 commitment than without one, according to Diess. "You just run out of arguments," he said. Audi has been...
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