Porsche has become the latest manufacturer to announce plans to enter the Formula E electric car championship, reports Autocar.
Work "is already under way" on a vehicle to compete in the series, the magazine says, adding that Porsche plans to use the research to further its electric car development.
However, the move comes at the cost of its highly successful World Endurance Championship (WEC) LMP1 programme, which it only entered four years ago.
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Porsche will withdraw from the WEC at the end of the year to focus on its efforts in the single-seater series, says Motorsport, leaving only Toyota and a handful of privateer teams with cars in the class-topping category.
It also means the German car giant will no longer compete at the Le Mans 24h, an event it has dominated over the past three years with its 919 Hybrid prototype.
However, the Financial Times says Porsche "will continue to appear at Le Mans and other significant international races, but only in the lower GT classes".
There's also a chance it will be enticed into F1, adds the newspaper, as the series plans to "simplify" the 1.6-litre V6 hybrid engines currently used.
Earlier this week, Mercedes revealed its was planning to drop out of the popular DTM touring car championship to enter Formula E.
The two carmakers will join rivals Audi and BMW in the electric racing series, along with the likes of Jaguar, Renault and Citroen's luxury brand DS.
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