Porsche is known as one of the most popular sports car brands across the world. Yet, they do not belong in motorsport's premier racing competition, Formula 1.

Currently, Formula 1 is shifting its power unit regulations to attract new teams and manufacturers.

Porsche Sporting Director Thomas Laudenbach spoke to RTL, stressing that Porsche is “seriously” looking into an F1 stint, explaining that “no secret that we are thinking about it.

Furthermore, he shed some light on actual progress behind the scenes, giving fans an idea of what is to come for Porsche and Formula 1 itself.

Via grandprix24/7

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“As far as I know, things are going in the right direction in Formula 1,” Laudenbach admitted, before going on to detail what factors in Porsche’s decision whether to join F1 or not.

“Motorsport must remain relevant for series production, so electrification must be emphasized more. Also in Formula 1,” he explained.

Formula 1 is a costly sport, those who spend the most end up having greater chances of succeeding.

“The budget cap is already a first step, such a limit must also apply to the drivers, it is under discussion,” Laudenbach continued highlighting the budget cap as another factor they are considering.

“Entry only makes sense if there is a change in the regulations that means that all competitors can start on the same basis,” said Laudenbach, and summed things up by saying that the package had to fit “in every detail”, before the final decision is made.

As of now, Red Bull and Mercedes are dominating Formula 1. However, some major companies that entered the sport in the past ended up failing. But, who knows? Maybe Porsche can have a glorious entrance.