Ford announces return to Formula 1 racing
Ford President and CEO Jim Farley and Formula 1 CEO Stefano Domernicali discuss Ford’s growth in the auto industry and employment and announce its return to Formula 1 racing.
Ford announced Friday that it is teaming up with Red Bull to enter Formula One in 2026, which will mark its first foray into the series since 2004.
The two companies will form Red Bull Ford Powertrains to develop and build the power units that will be used by Oracle Red Bull Racing and its sister team, Scuderia Alpha Tauri.
Ford CEO Jim Farley said this is a perfect fit for the automaker as it ramps up production of electric vehicles.
|F||FORD MOTOR CO.||13.23||-1.11||-7.74%|
"Formula One’s going green, and so are we as a company," Farley told FOX Business.
FORD CUTTING ELECTRIC MUSTANG MACH-E PRICES BY UP TO $5,900