CEO of the car brand Mercedes Ola Källenius to give full support to Gin’s F1 team. According to him, the F1 project does not in any way conflict with the green values of the car giant.
Mercedes has dominated the series in recent years, but the team’s continued speculation was a standard topic in the headlines. Speeches subsided in the summer when the team signed the Concorde deal, committing to continue in the series until 2025.
Källenius became CEO of Mercedes’ parent company Daimler last year. Prior to his appointment, he was known for his busy approach to motorsport motorsport projects, but the sound on the watch has changed since the appointment.
In an interview with German Manager Magazin, Swedish Källenius assured Mercedes that there were many reasons to continue in formula number one.
– The popularity of the F1 series is growing in Asia, Europe and South America. Especially for young people on social media and through sport. Would we waste this growth? That would be crazy.
Daimler reported massive losses early in the year, but now the earnings rate looks better. It also reduces the pressure on the shoulders of an expensive F1 project.
Starting next year, the F1 series will introduce a budget ceiling that will limit the cost of the largest stables. For Mercedes, this is fine, even though the tightening strikes hit the Silver Arrow hard.
In an interview, Källenius reveals that the Mercedes F1 team is well on its way to becoming a fully self-sufficient organization that does not require financial support from the car brand at all. The expense ceiling, the plush pot of prize money and the wealthy sponsors are making the stable a source of income for Mersu, not a money hole.
F1 has to change
In addition to economic considerations, green values are an important selling point for car brands today. Manufacturing is moving away from internal combustion engines, and the hybrid technology represented by F1 is not the most ecological of all.
Källenius sees that there is still much to be given by current sources of power.
– We will continue to make our cars suitable for hybrids. In addition, we may switch to new fuels. F1 is also becoming carbon neutral. And so it should be, otherwise the species would be gone, Källenius states.