Porsche has confirmed it will extend its involvement in the all-electric Formula E world championship.

The German auto giant has confirmed it will remain in the competition for two years beyond its current agreement.

That ensures Stuttgart representation on the Formula E grid through to the end of Season 12, in 2026.

“With our entry into Formula E, we have opened a new chapter in all-electric motorsport,” said Michael Steiner, member of the executive board for research and development at Porsche.

“We remain convinced that our presence and successes in Formula E will lay the foundation for future mobility solutions.

“It provides the most competitive environment to accelerate the development of high-performance vehicles with a focus on environmental friendliness and energy efficiency.

“We look forward to playing an active role in shaping the successful future of Formula E and thereby giving electric mobility even more impetus on a global scale.”

Formula E founder and chairman, Alejandro Agag, added: “Porsche has been a valued and influential team since joining Formula E and we are excited that this will continue.

“The championship is enabling Porsche to accelerate development of the innovative EV technologies we see in their road cars, while the team is an active member of the group driving development of the next generation of Formula E car to arrive in Season 13.”

Last September, Porsche announced it had abandoned plans to enter Formula 1 after expressing an interest in joining that competition in time for its next generation of regulations.

Discussions were held with Red Bull but a deal could not be reached.

Parent company, Volkswagen Audi Group, will however have F1 representation with Audi taking a stake in Sauber ahead of entering F1 in a works capacity once the new regulations drop in 2026.

Formula E is in London this weekend for the final two races of 2023, with Porsche within striking distance of teams’ championship leaders Envision Racing.