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Ferrari approves of 2014 engines

The decision by Formula One to switch to a V6 turbo engine from 2014 has given Ferrari added reason to stay in the sport, the company's chairman Luca di Montezemolo said on Monday.

india Updated: Jul 05, 2011 00:09 IST

The decision by Formula One to switch to a V6 turbo engine from 2014 has given Ferrari added reason to stay in the sport, the company's chairman Luca di Montezemolo said on Monday.

The Italian had been critical of earlier plans to switch to a 'greener' 1.6 litre four-cylinder engine, but those plans were officially dropped last week in favour of a new V6 1.6 litre turbo engine to replace the current V8 engine.

"I (will) do Formula One as long as Formula One represents for us the most important research centre," Montezemolo told a small group of reporters in Tokyo, adding the sport had helped advance Ferrari's gearbox, composite materials and other important technologies throughout the years.

"The decision of V6 is important because turbo-six is good for the future, not only for Ferrari but also for Mercedes and others," he said, suggesting that a V6 Ferrari could one day join the brand's product line-up.

The luxury sports car maker, a unit of Fiat SpA , now only sells V8 and V12 cars.

Rupert Murdoch's News Corp and Italian financial holder Exor, which controls Ferrari's Formula One team through Fiat, have teamed up to explore the possibility of creating a consortium to take over the sport.

Montezemolo himself said in May that Formula One teams could consider setting up their own series from 2013 when the sport's current 'Concorde Agreement' expires.