BMW has announced it will withdraw from the Formula One at the end of the 2009 season as part of a “restructure” of its motorsports activities.
The decision was made at a board meeting, as the company focuses on investing in its sustainability technology such as Efficient Dynamics.
In a statement, BMW has said that it will continue to be involved in other motor sports series, with board chairman Norbert Reithofer saying: “Of course, this was a difficult decision for us.
But it’s a resolute step in view of our company’s strategic realignment.
“Premium will increasingly be defined in terms of sustainability and environmental compatibility.
This is an area in which we want to remain in the lead.
In line with our Strategy Number ONE, we are continually reviewing all projects and initiatives to check them for future viability and sustainability.
Our Formula One campaign is thus less a key promoter for us.
Mario Theissen has been in charge of our motor sports program since 1999.
We have scored a large number of successes in this period, including some in Formula One racing.
I would like to express my sincere gratitude to Mario Theissen and his team for this.
”Redundancies within the BMW motorsports division will follow this decision, after a season that has not brought the success originally hoped for.
BMW will continue its activities in other series such as the Touring Car Series and American Le Mans Series, while BMW Motorrad will not be abandoning its Superbike commitment.