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Mercedes-Benz is to announce its plans for the future of Formula 1 in a press conference today, with the German car maker set to confirm its increased involvement at Brawn.

The manufacturer will hold a press conference with Dr, Dieter Zetsche, head of Mercedes-Benz Cars, as well as motorsport chief Norbert Haug.

It is believed Mercedes will announce it is buying into the Brawn GP team, confirming reports that first appeared in September this year.

The Brackley-based squad has used Mercedes engines this season to win both the drivers' and the constructors' championships.

Mercedes is also set to reveal plans about its shareholding at the McLaren team, of which the parent company Daimler owns a 40 per cent stake.

The German car maker is expected to confirm it will remain as engine supplier for McLaren for the long term.