Racing websites reported that the former driver had died aged 75 but he is alive and well.
Edwards started 11 races in his career but was most well-known for the day he saved three-time world champion Lauda.
For that, the Macclesfield-born British driver was awarded the Queen's Gallantry Medal.
Edwards may not have made many appearances in F1 but his race in Germany in 1967 went down in history as he was a key part of helping free Lauda from his burning Ferrari.
Edwards resided in Monaco for most of the time but now spends his time on the west coast of Ireland.
He spent much of his driving career in sportscars in the European 2-litre series and then moved to Formula 5000 in 1971.
He also competed at the Les Mans 34 Hours in a Porsche 956 where he finished fifth in 1983, and then finished fourth two years later.
Edwards' career off the track was perhaps more successful than his time on it, though.
For the 1985 race at Le Mans, Edwards brokered a deal for his team with the backing of cigarette brand Carlton 100s.
Edwards then acted in brokering deals for Jaguars Cars.
He begun an iconic partnership that saw Gallaher brand Silk Cut sponsoring Jaguar from 1986 to 1991 as well as bringing Castrol on board.
During the 1990s, Edwards worked on the commercial side for Lotus in Formula One.
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