Grapevine: New Volkswagen Boss Hints at F1 Bid

The designated chief executive of Volkswagen AG hinted on Monday that he was eager to see the German car manufacturer become involved in Formula One motor racing.

In an article due to appear in Germany's Stern magazine, Volkswagen (VOWG.DE) executive board member Bernd Pischetsrieder said he was a "big fan" of Formula One.

"Everyone knows that I am a Formula One fan through and through," said Pischetsrieder, 53, who will take control of Europe's largest carmaker in April 2002 after chairman Ferdinand Piech retires.

But tempering that statement, he added: "Even if we were to decide to make such an engagement now, we would still be on the outside for three to four years."

As chairman of rival company BMW AG until 1999, Pischetsrieder was responsible for guiding the Munich-based carmaker back into Formula One three years ago. However, a Volkswagen spokesman said the company had yet to make a decision on whether it would commit to taking an active role in Formula One.

"Nothing has been decided at this point," said VW spokesman Hans-Gerd Bode. "This sort of speculation arises from time to time but nothing has changed."

The bearded Pischetsrieder joined VW's executive board in July 2000, taking responsibility for the SEAT marque and quality control. Stern speculated that there were two possible ways VW would enter the sport. They could either buy a small team and develop its own car or form a partnership with another manufacturer - as BMW and Mercedes have done.

The magazine added that Volkswagen had already developed an engine for a Formula One car.