Reports: Mercedes to withdraw from Formula E

The team, whose driver Nyck de Vries currently leads the standings, were yet to officially commit to the Gen3 rules and is now expected to pull out after a decision by the Daimler board.

Mercedes motorsport boss Toto Wolff told Motorsport.com “a decision has been taken” about the team's future and the Gen3 regulations.

"If Mercedes were to leave, which we haven't said, then, of course, you need to work on alternative strategies," he said.

"We are in the sport not only because we guys like to compete and drive around in circles.

“But it is mainly a marketing and communications platform.

“And therefore, like everything we do, is under constant evaluation in terms of the benefits that any platform is able to generate for Mercedes-Benz.

“Apart from the let's say marketing value that it generates, it is about technology transfer and these two need to go hand in hand: technology and marketing.

“This is why everything is permanently evaluated and is this really still contributing to where we see the brand?”

Mercedes joined Formula E in 2019.