of bmw announce formula one withdrawal

BMW announce Formula One withdrawal: BMW announced that they will end their involvement in Formula One racing at the end of the current season to "dedicate more resources to developing new, sustainable road car technologies."

BMW will end their involvement in Formula One racing at the end of the current season, it was announced on Wednesday. The move is part of what the German car maker described as a ‘landmark’ decision to restructure its motorsport activities.

The news came at a press conference held at the company’s German headquarters in Munich, attended by BMW Sauber team principal Mario Theissen, along with Dr. Norbert Reithofer, the chairman of the BMW board, and Dr. Klaus Draeger, the director for development.

BMW became Formula One entrants in 2006 after taking over the Swiss Sauber team. The company said the decision to withdraw stems from a desire to dedicate more resources to developing new, sustainable road car technologies.