Max Mosley: Professor Göschel and I thought it would be good to have a meeting because it's probably not fully appreciated that after our meeting in Nice and then the meeting we held with all the F1 teams on 18 September in Paris, all the issues that did exist between the GPMA, the manufacturers and the FIA have been resolved.

We have complete agreement on all the issues. The engine freeze came forward to 2007 and we are now totally agreed on the principles on which we are going to approach the future. In particular, we need to reduce the costs, that's fundamental. And the people who suggest that the manufacturers do not want the costs reduced, Prof. Göschel will make it very clear that this is not the case.

We want to make the research work done in F1 not just cost-effective but also road relevant. That is to say, new developments in F1 should be those that are directly helpful to the car industry and in particular things which are relevant to perhaps the biggest single issue which confronts the car industry worldwide, namely the reduction of the output of CO2. That's why in the shorter term we are looking at energy-recovery and re-use from braking. That will come in 2009. We will come out with a regulation before the end of this year. And then recovery and re-use of the excess heat or waste heat from the engines. We intend to have a regulation for that before 2010. Both those things are currently fundamental to road car research.

In the longer term we are looking at the possibility of a completely new F1 engine reflecting the industry tendency which is to have a downsized, turbo-charged engine. At the moment that is still a discussion point between us and the manufacturers. That very briefly is where we stand at the moment.

Professor Burkhard Göschel: We have a common understanding that both the FIA and the GPMA are following the same route. As Max explained, Formula One should be focussed on the future areas the car industry must address. He also mentioned CO2 emissions for example which will be the biggest challenge for the car industry in the future.

So we have to take all these ideas and work out how to bring them into Formula One racing. Our understanding as a manufacturer is that F1 is the pinnacle of technology. If F1 for us as manufacturers is to make sense we have to show into which area technology should go to solve the problems of the future but also to have the fun of Formula One racing. Without question we will have that.

Max also said we are starting with energy recovery in 2009. And as everyone already knows the engines are losing two-thirds of the energy by heat and one of the ideas is how do we bring that back. The first step is that bringing the energy back into the car is one of the most important recoveries, the second step is to do this without losing the energy of the first step. So not only the engine but also the drive train must be made very efficient. That is the outlook for the future.

What we are doing in the car industry, and you can see this at BMW, is that we are shifting over to turbo-charged engines with a high-point of efficiency. In the future we will have down-sized engines with turbo-chargers.

We have to look at all areas for reducing consumption but also keeping the dynamics of F1. It might sound like a contradiction but it is not. The targets of modern engineers is not just to say you can only recognise this area or that area but a modern engine has to cover both and if something seems to be not possible he has to find a solution to ensure that F1 is still dynamic, interesting, and emotional but it is following the modern ideas of technology.

There are also other areas of development. For instance if you look at the BMW X5, we have integrated chassis management and so we are combining active steering with electronic microsystems and anti-rollbars to a new functionality. So electronics and software technology will play a major roll in car technology in future. So that is also an area we are discussing. There might be a future in F1 racing where we are ahead of technology.

So there's a common understanding that the GPMA and the car industry have with the FIA and we are committed to take a common route into the future towards those areas because we are all interested in doing the right thing for the future.

This was quite an antagonistic relationship early on, what was the breakthrough to bring you both together?

MM: The big breakthrough came with our meeting in Nice on 7 August where we went through all these issues. The key thing was to appreciate that what we needed to do was to define the objectives and then worry about the rules. Whereas previously the discussions had all been about the rules without any real attempt to define the objectives. I think once we defined the objectives of road relevance, lower cost and social relevance, after that the discussion got easier.

BG: That's true and in our opinion it was also a breakthrough. Coming to a solution but to have common ideas for the future, that is the right way to go forward. So we made the shift in Nice. It is a real breakthrough to shift the mindset between the manufacturers and the FIA because we are looking at the same areas of what to solve.

Max pointed out those areas and I also want to point out another area we have to look at: is the education of our engineers. It is interesting to make an engine capable of 22,000 rpm but there is no interest within the car industry to have such an engine. So in the end our young engineers are operating in the wrong area. For us at BMW and at other car manufacturers F1 is an area to train our engineers to take decisions and in developing future technologies. It will keep car manufacturers in F1 if F1 is focused on future technology for the car industry. If F1 takes this route then there is a future for each manufacturer in F1.