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Mercedes reconfirms commitment to F1 with AMG brand

AMG branding is expected to feature more prominently on Mercedes' Formula One cars next year after parent company Daimler laid out its plans for its future commitment to the sport.

The news comes after months of speculation that Daimler was considering selling its F1 team -- a rumour that was repeatedly dismissed by both Mercedes team boss Toto Wolff and Daimler CEO Ola Kallenius.

The F1 team is already called the Mercedes AMG Petronas F1 team, but Daimler wants to deepen the links between its performance brand AMG and its on-track success.

The team is on the brink of a seventh consecutive world title this year and with the incoming budget cap is aiming to become cost neutral for its parent company over the coming years.