Porsche boss: VW still chilly about F1

DETROIT, Michigan - Porsche chief Matthias Mueller has all but ruled out the VW group taking serious interest in racing in Formula 1.

Mueller told DPA at the 2015 North American International Auto Show: “There is some speculation again - I don't know where it comes from but I can tell you that it has not been seriously discussed at the meetings I have attended over past months.

"There are no decisions in this direction."

'WE DON'T HAVE THE MONEY'

Porsche, part of the VW group and a competitor in sports-car endurance races such as the annual Le Mans 24 Hours, most recently competed in F1 in 1991 as the engine supplier to  the Footwork team.

Mueller said: "F1 costs a lot of money. I know how much the successful companies invest per year. We don't have that money."