Cape Town - Porsche announced it will no longer compete in the World Endurance Championship at the end of 2017, paving the way for a move to Formula E in the 2019/2020 season, according to Motorsport.com.
Porsche will quit the LMP1 division after its successful 919 Hybrid won the top category in 2015, 2016 and 2017.
Sister brand Audi pulled its LMP1 project in 2016 to start planning its entry into Formula E.
The marque which has won the grueling 24-hour race on 19 occasions joins another German automaker Mercedes who confirmed their departure from the German touring car championship (DTM) and its entry to Formula E in 2019.
Only Audi and BMW remain in DTM.
Four German brands to compete in Formula E
Mercedes and Porsche join BMW and Audi in a foursome for the all-electric series' sixth season.
Porsche board member Michael Steiner is quoted by Motorsport.com: "Entering Formula E and achieving success in this category are the logical outcomes of our Mission E road car programme."
Steiner is referring to the Mission E concept shown at the 2015 Frankfurt motor show, the all-electric car uses an all-wheel drive system, can sprint to 100km in less than 3.5 seconds and recharges in a claimed time of 15 minutes to reach 80% electric charge. The 200km/h mark is hit in less 12 seconds.
Image: AFP / Damien Meye