Mercedes has insisted it remains committed to staying in Formula One with its UK partner McLaren, after reports had suggested the firm was looking to get out of the sport.
According to a recent story in German magazine Focus, Mercedes’ parent company Daimler had been mulling the possibility of quitting Formula One, but the company insisted that a supposed vote of the Daimler board had never taken place.
Mercedes provides the engines for the McLaren Formula One team, which powered British ace Lewis Hamilton to the title last year.
The champion is preparing to launch the defence of his title when the season gets underway in March this year and McLaren has already unveiled the new model that will take part in the campaign.
Concerns over the future of a number of Formula One teams have grown in recent months after Honda announced in December that it was planning to pull out of the sport.
The credit crunch has hit several of the companies that compete in Formula One and the sport’s governing body has called for teams to slash costs to make the sport more affordable.
Written by Paul Jarvis