F1Today has learnt that Ferrari had used it's right of a veto to block proposed changes to halve costs of the V6 Power Unit.
Currently, Mercedes, Ferrari and Renault charge their customers around €20million for a Power Unit. The FIA revealed plans at the last Strategy Group Meeting to reduce costs through having a maximum price to which manufacturers can charge their customers for a Power Unit.
Ferrari due to their history has the 'Right of a Veto' for any new rules and indeed they decided to use their power for this cost cutting measure.
Formula One Management have responded with further plans to introduce an independent and cost-effective Formula 1 engine for 2017. Plans that were announced by Bernie Ecclestone over the US Grand Prix, who told reporters that due to the price of the V6 Engine, it's starting to scare off newcomers while challenging the current teams' finances.
"The FIA will put out a press release on Monday or Tuesday.
"[The engines] will probably have more power, probably use more fuel.
"It means I suppose there will be some regulation changes, which has already been anticipated for 2017 anyway, so there is nothing new."
From Day One, Ecclestone has never been a fan of the V6 Power Units and he believes a new independent supplier will immediately be competitive and, therefore, stop the stronghold that both Ferrari and Mercedes have on the sport - something that F1today has been reporting on. As for who will the supplier be, Ecclestone admitted Cosworth were interested, but any confirmation will have to wait till the FIA make a formal announcement sometime this week.
Written by Harry Shovelar
Bahrain International Circuit - Winter testing