Lutz Meschke, Porsche's financial chief and deputy chairman of the executive board, says talks are ongoing about an involvement in F1.

The German marque recently announced their commitment to a works Formula E team, ending their association in the World Endurance Championship's LMP1 class which demands budgets close to that of a Formula One team.

However, the car company, which is part of the Volkswagen Group, is now actively in discussions with F1 chiefs over the possibility of joining the sport as an engine provider.

Talks were held during the Italian Grand Prix in Monza as Porsche are interested in being associated with the sport due to the current hybrid V6 power unit set to be replaced in 2021.

Costs are expected to be reduced with the new power unit and Meschke has now confirmed early negotiations have gone well as their potential involvement in the future increases.

"F1 is always a good topic to think about and I think we are in quite good discussions regarding the new engine," he told Motorsport. "F1 could be one of the right places."