Haas F1 Team boss Gunther Steiner says that Formula E is not a threat to Formula 1 despite recent manufacturer movement from other high-profile categories to the all-electric formula.

Last week, Mercedes announced that it would exit DTM, which it has participated in since the category’s re-launch in 2000, to join Formula E from 2019/2020.

Porsche followed suit just days later, confirming rumours that its 2017 World Endurance Championship LMP1 program will be its last for the foreseeable future as it also prepares for a move into Formula E in 2019/20.

The Stuttgart manufacturer will, however, continue to field its 911 RSR in the GT class of WEC.

Mercedes’ and Porsche’s decisions add to existing manufacturer involvement in Formula E from Renault, Audi, BMW, and Jaguar.

Steiner believes that the category is in a honeymoon period and will face challenges in the future.

“I see it as an additional series, but I don’t see it as a threat,” he said when asked by Autosport for his views on the growing interest in Formula E.

“I still see F1 in a very good place; it is the pinnacle of motorsport.

“FE is trending at the moment; everyone wants to be part of this electric movement, which is fully understandable.

“But when there are seven or eight manufacturers involved, not all can win.

“There will also immediately be a war over who can do more, who wants authority and all those sort of things.

“At the moment, they are not attracting a lot of spectators so I don’t know how they can create revenue.

“It is difficult enough for F1 to create revenue, and this is a sport that has been here a long time.

“All the best drivers are here.”

Steiner believes that ultimately Formula E should be viewed as a good alternative to F1 rather than a rival.

He believes if electric racing proved a big hit with fans then grand prix racing could switch across from hybrids.

“The easiest way, if it is a threat, we would just put electric motors in these (F1 cars), because we have got a platform.

“Whatever happens it will be F1.

“I can understand the interest because it is so trendy now, you need to be part of it, it is a wave.

“For the OEMs it is inexpensive, relatively inexpensive, compared to F1, so it is a pretty easy decision.

“Mercedes will spend a lot less in FE than they do in DTM , and the same goes for Porsche going out of WEC.”