Daimler CEO Ola Kaellenius went on record to reaffirm his company’s commitment to Formula 1, while adding that Mercedes are working to slash costs and cut the environmental impact of motor racing.
“We have as little reason to step out of Formula One as Bayern Munich has to step out of football [soccer],” he said during a virtual discussion with journalists yesterday.
For those of you who don’t follow soccer, Bayern is a true powerhouse in Europe and for them to leave the sport would be the equivalent of the Kansas City Chiefs or the Houston Rockets leaving the NFL and NBA respectively all of a sudden.
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In other words, it makes no sense to leave when you’re so competitive on a yearly basis. Of course, Mercedes-AMG Petronas F1 aren’t just competitive, they’re six-time champions (consecutive titles), soon to be seven.
With that in mind, Mercedes parent Daimler is also developing a plan to make Formula One emissions neutral, which could happen through the use of synthetic fuels, reports Reuters. Another goal of theirs is to improve the costs of competing in motor racing.
“The net financial impact will be halved in the next three years. We have an even more aggressive cost reduction target in Formula One than for the rest of the company,” added Kaellenius.
Separately, he also reiterated that Daimler is “within striking distance” of meeting its carbon dioxide emissions reduction targets in Europe, with Mercedes having ramped up sales of electric and hybrid vehicles in Q3 of this year, and will continue to push forward with electrification.
