Porsche has recently ended its Le Mans prototype racing program and now it has committed to entering Formula E for the 2019-2020 season as a works team.
Porsche was last involved in Formula One all the way back in 1991, when it provided engines for the Footwork team; that was the name Arrows used from 1990 to 1996, thanks to backing from a Japanese logistics company. The 3512 engine was shelved after only a year, as it proved underpowered and unsuccessful.
Porsche could be taking part in F1 as early as 2021. By then engine regulations would have changed to focus on engines that would be cheaper to manufacture and simpler to engineer.
The possible powerplant in question would be a twin-turbo V6 with less complicated engineering.