Volkswagen's premium brands Audi and Porsche will join Formula One after convincing the German automaking group that the move will bring in more money than it will cost, VW Chief Executive Herbert Diess said on Monday.
European auto giant Volkswagen Aktiengesellschaft on Tuesday said it has bought 49.9 per cent stake in luxury car maker Porsche AG for 3.9 billion euros ($5.8 billion).
German car giant Porsche AG's sports coupe 'Cayman S', which will be launched worldwide in November this year, is likely to hit Indian roads in January 2006.