Audi has taken a minority stake in the Sauber Group whose Swiss-based Formula 1 team are due to become the German car manufacturer’s factory outfit from 2026.
Sauber said in a statement on Monday that, as planned, the Volkswagen-owned brand took the stake this month but gave no financial details.
“The Sauber Group is pleased to announce that, as per the plans outlined in October last year, Audi acquired a minority stake in the Sauber Group in January 2023,” it said in a statement.
“This is an important milestone on the way to Audi’s entry in Formula One, scheduled for 2026, for which the Sauber Group will be the German brand’s strategic partner,” Sauber group added.
Audi announced last October that it had agreed to take a stake in Sauber Group, which has been involved in Formula 1 since 1993 and whose team are competing this season as Alfa Romeo using Ferrari engines.