Formula E champions Mercedes will withdraw from the all-electric series at the end of the Gen2 era in 2022 to concentrate on Formula One, the carmaker said on Wednesday.
The announcement comes three days after Dutch driver Nyck de Vries won the Formula E world championship title after finishing eighth in the season's final race in Berlin, with Mercedes also winning the teams' title after Stoffel Vandoorne's third place.
"Mercedes-Benz today announced that it will conclude its ABB FIA Formula E success story as a team entrant and manufacturer at the end of Season 8, in August 2022," the manufacturer said in a statement https://www.mercedes-benz.com/en/eq-formulae/we-race-the-city/team/team-news/concluding-formula-e-success-story.
"Moving forward, the company will concentrate its works motorsport activities on Formula 1, reinforcing the sport’s status as the fastest laboratory for developing and proving sustainable and scalable future performance technologies."
In December, German manufacturers Audi and BMW confirmed they would exit Formula E at the end of this year.
Mercedes announced a new strategic direction for its brand in July, with the aim of going all-electric by the end of the decade.
"As part of the new strategic direction, the brand has deliberately chosen to shift resources for this accelerated ramp-up of electrification, including the development of three electric-only architectures to be launched in 2025," the carmaker said.
"Therefore, Mercedes will reallocate resource away from its ABB FIA Formula E World Championship programme and towards applying the lessons learned in competition to product development in series."
(Reporting by Hritika Sharma in Bengaluru; Editing by Christian Radnedge)