Formula One teams have unanimously agreed to reduce engine costs by more than €15 million by 2011, according to Ferrari chairman, Luca di Montezemolo.
Formula One teams have unanimously agreed to reduce engine costs by more than €15 million by 2011, according to Ferrari chairman, Luca di Montezemolo.
Montezemolo, who recently presided over a meeting of the newly founded Formula One Teams Association, told the BBC that by 2011 an engine will cost £4 million, compared to the current £16 million.
He added that the Association would also work with all the teams to further reduce the costs further still for 2010 and 2011.
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