Porsche has announced that it will be quitting its LMP1 World Endurance Championship programme at the end of this year to enter Formula E in 2019!
The Weissach marque is the second manufacturer to announce its entry into the burgeoning all-electric single-seater series this week, after Mercedes' decision to depart DTM and commit to Formula E.
"Entering Formula E and achieving success in this category are the logical outcomes of our Mission E road car programme," said Porsche board member Michael Steiner.
"The growing freedom for in-house technology developments makes Formula E attractive to us.
"For us, Formula E is the ultimate competitive environment for driving forward the development of high performance vehicles in areas such as environmental friendliness, efficiency and sustainability."
Porsche decision to pull out of endurance racing follows fellow brand Audi's likewise decision to leave LMP1 to strengthen its presence in Formula E as it takes over the Abt Schaeffler squad which competes in the series.
"Building up the Le Mans team from scratch was a huge challenge," said Porsche vice-president of LMP1 Fritz Enzinger.
"Over the years, we have developed an incredibly successful and professional team.
"This will be our basis going forward. I am certain that we will maintain our high level in Formula E. Confidence is high, and we are excited to get started."