Daimler AG, the parent company of Mercedes-Benz, remains involved in Formula 1. Das Haus takes a smaller stake in the factory team and transfers part of the shares to the petrochemical concern Ineos. Ultimately, the intention is that the knowledge from Formula 1 ends up in the road cars of Mercedes-AMG to a greater extent.
In the new situation, there are three shareholders, all of whom have a third-party interest in the team: Daimler AG, team principal Toto Wolff and Ineos. Daimler was initially a 60 percent shareholder and is therefore considerably reducing its position in the team. Despite Daimler’s reduced interest, the team continues to carry on as the Mercedes-Benz factory team. That means that the brand with the star will still take care of the chassis and power unit. In addition, the team will work even more closely with Mercedes-AMG. One of the first fruits of this is the Project One hypercar with F1 engine, which is currently still in the testing phase. However, it seems likely that the knowledge gained in Formula 1 will eventually end up in other AMG cars.
Mercedes-Benz still sees opportunities in Formula 1. Not surprising, because the team has been world champion for seven seasons in a row, both with the drivers and the constructors. According to Ola Källenius, Daimler’s CEO, Mercedes-Benz’s future in the premier class of motorsport looks ‘bright’. He previously indicated that the company would remain committed to Formula 1, partly thanks to the recently introduced budget ceiling. This should reduce the team’s spending pattern in any case. That works out well, because within Daimler they are making considerable cuts. It has also been decided that Toto Wolff, the current team principal and CEO of Mercedes-AMG F1, will remain in his post for at least three more years.