Ferrari veto latest engine cost management idea

It was revealed during the United States Grand Prix weekend that the FIA was looking for a budget engine to be introduced in 2017 alongside the current 1.6 litre turbo V6s. However, Ferrari have used their right to veto on the idea of putting a cap on the cost of any power unit and gearbox package.

The price of engines for customers had drastically increased compared to the old 2.4 litre naturally aspirated V8, with teams currently paying an estimated €20million for a year’s supply.

A statement from the FIA reads: “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.”

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