In exiting topline sports car endurance racing, Porsche will follow fellow German manufacturer Mercedes-Benz as the latest car maker to join the all-electric Formula E championship in 2019/20.

“Entering Formula E and achieving success in this category are the logical outcomes of our Mission E road car programme," said Porsche board member Michael Steiner.

"The growing freedom for in-house technology developments makes Formula E attractive to us.

"For us, Formula E is the ultimate competitive environment for driving forward the development of high performance vehicles in areas such as environmental friendliness, efficiency and sustainability.”

“Building up the Le Mans team from scratch was a huge challenge," said Porsche vice-president of LMP1 Fritz Enzinger. "Over the years, we have developed an incredibly successful and professional team.

"This will be our basis going forward. I am certain that we will maintain our high level in Formula E. Confidence is high, and we are excited to get started”.

The decision will send shockwaves through a World Endurance Championship still reeling from Audi’s exit at the end of 2016.

As things stand, with Porsche’s exit, Toyota remains as the sole manufacturer entry in the outright LMP1 category for 2018.