Cosworth won’t be developing an engine for the 2021 Formula 1 regulations unless it can secure some manufacturer backing or a partnership to finance the development costs, according to managing director of powertrains Bruce Wood.
Speaking at the Autosport International Show, Wood said Cosworth were happy with the direction that the proposed regulations had taken, particuarly in reducing the complexity and cost of future power units, but admitted the cost of entry was still too high for Cosworth alone to finance.
“First off, we’d love to be there,” said Wood. “It’s been reported quite widely that we’ve been heavily involved in the ongoing [future engine] discussions.
“The rules as they are being proposed would certainly technically facilitate Cosworth coming back into it and will bring down the cost barrier to entry to the point where there’s a lot more OEMs, or not necessarily car manufacturers but other sponsors, who see Formula 1 as something they can bring into their sorts of budgets.
“Where we sighted it from the beginning is that it’s unlikely you will see a completely independent Cosworth on the ‘if you build it they will come’ [basis].
“That’s unlikely because the economics of that are hard to make work,” he added.
“We certainly hope that we might be there partnered with a small OEM, that’s willing to make a much smaller financial commitment to get into F1.”
Aston Martin is another small manufacturer looking to get involved in F1 under the new engine regulations and is believed to be working with Red Bull to reduce development costs.