No Formula One for Audi

Audi AG has flatly rejected speculation that it might enter Formula One racing through a partnership with Red Bull Racing, Reuters reports.

CEO Rupert Stadler tells Handelsblatt that F1 "is not a topic for us." His declaration comes a week after he was quoted by Auto Express as being "open" to the idea of a role in F1.

Observers have speculated that Audi, a unit of Volkswagen Group, might consider F1 after last month's abrupt resignation of group Chairman Ferdinand Piech, who opposed the idea because of the high cost of F1 competition. Some observers say VW's renewed focus on lower costs and stronger earnings makes an F1 bid less likely anytime soon.

Audi is expected to continue its involvement with several other racing categories, however. They include the German Touring Car series, the new Formula E electric open-wheel race car series and the annual 24 Hours of Le Mans.