Talks between Porsche and Red Bull concerning a partnership in Formula 1 have come to an end without a resulting deal, Porsche announced on Friday.

Porsche said it was seeking a deal that would be “based on an equal footing,” not only regarding the supply of a new Porsche power unit but also for control of the team.

It was previously reported that Porsche was set to acquire 50% of the team.

Since a deal couldn’t be achieved, the two parties jointly decided to end the talks, Porsche said on Friday.

Porsche hasn’t abandoned its desire to enter F1 just yet. It said the new power unit regulations due to be introduced in 2026 make the series an “attractive environment” that will continue to be monitored.

The new regulations call for lower costs and the use of 100% sustainable fuels, something that has also proven attractive for fellow Volkswagen Group brand Audi. Audi announced in August it will enter F1 in 2026 when the new regulations are introduced by partnering with an existing team believed to be Sauber, which currently races as Alfa Romeo. The Sauber-Alfa Romeo deal is scheduled to end after 2023.

Like Porsche, Audi plans to develop its own power unit.

Porsche has a history in F1. It competed as a constructor in the 1950s and ’60s and then briefly as a power unit supplier in the 1980s and early ’90s. While Audi hasn’t competed in F1, it does have a history of Grand Prix racing, having dominated on racetracks together with Mercedes-Benz during the 1930s, when it was called Auto Union.

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