Wednesday October 10th, 2001

Klaus Volkert, staff representative of car manufacturer Volkswagen, has dismissed speculation about a possible entry of the German firm in Formula One in a near future.

Executive board member Bernd Pischetsrieder last week hinted at the entry of the Europe's largest carmaker, claiming he was a big Formula One fan.

"Everyone knows that I am a Formula One fan through and through," said Pischetsrieder, who will take control of Volkswagen in 2002 after chairman Ferdinand Piech retires. "Even if we were to decide to make such an engagement now, we would still be on the outside for three to four years."

However, Volkert has denied the German manufacturer is interested in competing in Grand Prix racing, despite claims from German magazine Stern that Volkswagen had already developed an engine for a Formula One car.

"Mr. Pischetsrieder likes to go to fishing," Volkert said. "Nobody suggested that we launch out into the fish breeding industry."

Published at 17:52:37 GMT

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