Audi and Porsche have been weighing up entering F1 for some time now with the sport introducing new engine regulations for 2026.

Speaking at an event on Monday, VW Group CEO Herbert Diess confirmed its intention to enter F1 with Porsche and Audi.

He said: "You just run out of arguments [against it]," with F1’s success as a sport financially in recent years making it an attractive opportunity for manufacturers

The new regulations for 2026 haven’t been clearly defined by F1’s next power unit is expected to still be a 1.6-turbo hybrid engine.

The hybrid element of the power unit is expected to be simplified while they will be run on 100 per cent sustainable fuels - something that appeals to both Porsche and Audi.

Both manufacturers are not expected to enter the sport as new entrees.

According to the BBC, Porsche is in talks with Red Bull over potentially acquiring a 50 per cent stake.

Red Bull is currently building its own engine department - Red Bull Powertrains - after Honda’s exit at the end of 2022.

Porsche would take over the design of Red Bull’s power units from 2026.

On the other hand, Audi has a range of options with reports linking it with a number of teams.

It has reportedly held talks with McLaren, Sauber, Williams and Aston Martin.

McLaren has repeatedly rejected any rumours surrounding a takeover while Aston Martin has previously spoken about developing its own F1 engine.

Williams team principal Jost Capito has links to the Volkswagen group having been director of Motorsport previously.