Things are starting to take shape in Geneva and it starts with the two meetings held by the FIA by assembling, first, a Strategy Group meeting to hammer out the details and followed by a F1 Commission to agree to said details. The outcome? Engine will be cheaper going forward.
The FIA had placed the onus on Mercedes, Ferrari, Renault and Honda to not only supply the entire grid but to cap the cost of such a supply and according to AUTOSPORT, they’ve reached that agreement at $12 million. That’s significantly south of the reported $20 million that was being bandied about in the press last year.
This move was to stave off a virulent and highly motivated FIA president Jean Todt and Formula 1 boss Bernie Ecclestone who were poised, with mandate in hand, to make whatever changes necessary to secure F1’s future and much of that was placed on a second engine format that was more affordable. The teams were not too keen on that idea.
The new regulations are set to be installed for the 2018 season and be termed on a three-year deal until 2020. A landmark year as the original 1.6-litre V6 turbo-charged hybrid systems format was due to expire on that date anyway.
Also, the group all agreed to reduce the number of gearboxes allowed per season to just three. There was also a charge to the teams to circle back at the end of 2015 to simplify the technical and sporting regulations as many feel they have grown to monster-in-the-closet proportions and who can argue with that?
Hat Tip: AUTOSPORT