Formula One Engine Suppliers Meet to Discuss Cost Reductions
The FIA, the sports governing body, has said that if the proposals from the current engine manufacturers were not good enough, then the idea of an independent engine - whose cost to teams would be subsidised - will be revived and could be in place for 2017.
Formula One's engine manufacturers met on Saturday to discuss ways of reducing costs for teams and head off the threat of the sport introducing a cheap independent engine. (Bickering Threatens Formula One Future)
The sport's governing body, the FIA, had put out tenders for the manufacture and supply of independent engines, and received interest from several companies. (Bernie Ecclestone Has 'No Doubts' Monza Will Remain on Formula One Calendar)
Current engine suppliers used their regulatory power to block the idea and instead said they would come up with their own way of reducing costs for customer teams.
The current engine suppliers - Mercedes, Ferrari, Renault and Honda - plan a series of meetings after Saturday's discussion, and report back proposals to the F1 Commission on January 15.