Mercedes-Benz has announced that it has taken up its entry option into the burgeoning Formula E series for 2019, and will leave the DTM championship at the end of 2018 as a consequence.
"Mercedes-Benz has announced a strategic repositioning of its motorsport activities: the company will conclude its participation in DTM at the end of 2018 and enter Formula E in the 2019/20 season," read a statement from the German manufacturer.
"This new approach will see Mercedes-Benz competing at both ends of the motorsport spectrum: in Formula 1, the pinnacle of motorsport combining high technology and the most demanding competitive challenge; and in Formula E, which embodies the transformation that is underway in the automotive industry."
Mercedes motorsport boss Toto Wolff views Formula E as a brand new form of racing that reflects a rapidly changing automotive landscape.
"In motorsport like in every other area, we want to be the benchmark in the premium segment and to explore innovative new projects. The combination of Formula 1 and Formula E delivers that," said Toto Wolff, Mercedes' head of motorsport.
"Formula E is like an exciting start-up venture: it offers a brand new format, combining racing with a strong event character, in order to promote current and future technologies.
"Electrification is happening in the road car world and Formula E offers manufacturers an interesting platform to bring this technology to a new audience - and to do so with a completely new kind of racing, different to any other series.
"I am pleased that we were able to extend our entry option for one year to the 2019/20 season. This gives us time to properly understand the series and to prepare for our entry in the right way."