Audi team principal, Jonathan Wheatley, insists that Audi's target of challenging for the title by 2030 is realistic.

The former Red Bull man was speaking at the launch of its R26 concept, essentially an opportunity to show what its 2026 might look like before it is plastered with sponsors decals.

As the team issued a mission statement along with a number of images, guests were attending the unveiling in Munich, where the German manufacturer took the opportunity to remind them of its glorious history in other motorsport disciplines such as WRC, WEC, Le Mans and Touring Cars.

The mission statement was much as expected, though Audi refrained as much as possible from outright hyperbole, instead claiming that it will be five years before it expects to be challenging the likes of Red Bull, Mercedes, Ferrari and McLaren.

"(They have given us) a very realistic set of targets," Wheatley told the official F1 website. "They understand the journey we are on, they have been incredibly understanding of how long that may take, the stages along the way, the fact everything needs to be in place, get bigger then consolidate your position for a while, get bigger again and then consolidate.

"So, our target really is to keep building on this momentum, which we started this year. We need to carry that through - and that will make us championship challengers at the end of the decade.

"This feels like a very significant moment on our journey," he said, admiring Audi's numerous historic masterpieces. "To see all the cars... it's like Audi have opened up the toy box and got all of the cars out here tonight.

"I had a spin in a Quattro Sport, which is one of my favourite cars, round to the event just now. It all feels real, it feels like it's happening."

Looking at the R26 concept, whose (corporate) livery has already been tested on TV to ensure that it is aesthetically pleasing, he said, "It's about releasing something really unique. If you look at an F1 car in five years, you'll say that's an Audi, in 10 years' time, you'll say that's an Audi. It's about setting a design ethos that will just carry through."

Also present was former Ferrari boss, Mattia Binotto, who now heads the Audi F1 project.

"We have got our plans, we know our competitors are strong, but we are here to try to do well," said the Italian. "We are aiming to win a championship by 2030. That's our ambition, our goal, our objective.

"It's looking great as a car," he said of the R26. "I am enjoying the new regulations, I'm enjoying the challenge from an engineering point of view. The entire team at Hinwil and Neuberg are excited, it'll be very special for us in a few weeks' time when we fire up the car, and then later on we will hit the track very soon. Next year, when we are in Melbourne, it'll be a special moment for all of us. The dream is coming close.

"The challenge is big," he admitted. "The power unit is a complex and difficult matter. The development of the power unit takes time, it takes longer than the chassis and aero.

"The team started years ago to develop the power unit and it's running well on the dyno. But for us it will be a long journey, and there will be much we need to learn, but we are all excited.

"On the dyno, we are running through reliability at the moment, ensuring it will be alright for the start of the season. There are some tense moments in Neuberg - but that's the challenge.

"I think the power unit challenge is difficult, but to become World Champion, to become the best car on track, all the challenges are tricky. I don't think you can select one or the other being the most difficult. But for a new manufacturer, certainly it's not easy."