Cosworth say it will not develop an engine for the 2021 Formula 1 regulations unless it can secure some manufacturer backing or a partnership to finance the costs, according to managing director of powertrains Bruce Wood.
Cosworth most recently competed in Formula 1 in 2013, as supplier to Marussia, dropping out of competition when the championship introduced V6 power units for 2014.
Speaking at the Autosport International Show, Wood said Cosworth is happy with the direction that the proposed regulations for 2021 had taken, particuarly in reducing the complexity and cost of future power units, but admitted the finances involved remain too high for Cosworth alone to face.
"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.
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