Formula One racing’s governing body, the FIA, is to investigate the possible introduction of a new customer engine, to be made available to teams at a much lower price than the current F1 power unit.
It comes after an inconclusive FIA study into potential cost reduction measures – including cost capping, revised rules, and increased parts standardisation – and after Ferrari vetoed proposals to set a maximum price for customer engines and gearboxes, as is the Italian team’s right under agreements governing the sport.
The FIA will now consult with the teams and other F1 stakeholders regarding a standard customer engine, with a view to choosing a supplier ahead of a possible introduction for the new unit in 2017.
The FIA says the move is part of its ongoing efforts ‘to ensure the sustained long-term development’ of the Formula One world championship, and urged the teams to make a ‘positive contribution’ to the process.
The FIA’s cost reduction statement in full:
The FIA has studied cost reduction measures for teams participating in the FIA Formula 1 World Championship which were not conclusive, including:
– a global cost ceiling
– a reduction in costs via technical and sporting regulations
– an increased standardisation for parts
The FIA, in agreement with FOM, suggested the principle of setting a maximum price for engine and gear box for client teams at the last Strategy Group meeting.
These measures were put to the vote and adopted with a large majority.
However, Ferrari SpA decided to go against this and exercise the right of veto long recognised under agreements governing F1.
In the interest of the Championship, the FIA has decided not to legally challenge Ferrari SpA’s use of its right of veto.
Therefore the FIA will initiate a consultation with all stakeholders regarding the possible introduction of a client engine, which will be available as of 2017. Following this consultation a call for tenders for this client engine, the cost of which would be much lower than the current power unit, could be undertaken.
Supported by FOM, the FIA will continue in its efforts to ensure the sustained long-term development of the Championship and look for solutions enabling it to achieve this. It asks all of the teams to make a positive contribution to the success of this approach through proposals and initiatives in the interest of the Championship and its continuation over the long term.
