Volkswagen rejected a report from a German publication that CEO Herbert Diess wants to buy a stake in Tesla.

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“Diess would go in right away if he could,” an anonymous source said, according to Manager Magazin.

Ticker Security Last Change %Chg
VWAGY VOLKSWAGEN AG 16.08 -0.07 -0.45%
TSLA TESLA INC. 223.30 +2.47 +1.12%

The automaker denied the claims Thursday, saying the report was “without merit.”

“The latest media speculations (manager magazin) regarding VW investments in Tesla are unfounded,” a Volkswagen spokesperson told FOX Business.

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