BERLIN -- Volkswagen's chief executive on Tuesday played down speculation that Europe's biggest carmaker could soon join forces with Porsche to develop hybrid-engine technology.
"We are still far away from saying we will cooperate on this or that technology," Bernd Pischetsrieder told reporters on the fringes of a ceremony marking the 100 millionth VW vehicle.
He made clear Volkswagen had not yet decided on a potential cooperation partner for hybrids, which combine electric motors with standard engines so that cars can run on battery power at low speed, thus cutting fuel consumption and emissions.
A VW source had said on Monday that holding talks with Porsche on hybrids "stands to reason".
Pischetsrieder reiterated that he saw no solid pickup in Europe's stagnant car market any time soon and stuck to VW's forecast that it could boost operating profit this year.