Carey: "Louder, cheaper, better engines is the way forward"

Formula 1's CEO Chase Carey has once again outlined very simply the targets of the new set of engine regulations. The American is keen to see engines that are much cheaper, produce a louder noise and overall are better than the current specs that are in play.

Formula 1 moved into a new era in 2014 when hybrid power was introduced. Since its beginnings, many have criticised the complexity of the power units and have highly criticised the sound that they produce. Mercedes stormed out with the most efficient unit, which was a key factor in its success in the last three years of F1.

In recent months, there have been a number of meetings to discuss the new set of regulations, which are set to come into play in 2021. A 1.6-litre biturbo with a single KERS and no MGU-H is the favoured option, with Carey laying down the foundations for the regulations.

"We are already putting some initiatives in place," he told Germany's Auto Bild. "One is the new engine. Hats off to Mercedes, who mastered what we have now, but the different in performance is too great. So we want to simplify things with the motto: louder, cheaper, better.

"Another area is costs," the 63-year-old continued. "There are teams that spend $500 million a year right now, while for others it's $100m. This hinders and distorts the competition. The goal must be that the teams can make money in the sport, but the truth is that at the moment no team is making a profit."

Fergal Walsh