Liberty Media has been encouraged by the number of manufacturers who have expressed an interest in participating in the championship when it introduces a new powertrain in 2026, according to Formula 1 CEO Chase Carey.
Formula 1 has used 1.6 litre V6 power units since 2014 and the current hybrid technology is set to remain in place until the end of the 2025 campaign.
Mercedes, Ferrari and Renault have been in Formula 1 throughout that period while Honda, which re-joined in 2015, will exit after 2021, citing a revised direction in the company’s ambitions.
Carey downplayed concerns over manufacturer involvement in the wake of Honda’s exit and revealed positive comments made by prospective OEMs.
“I think that was, from my perspective, largely driven by challenges, economic challenges, at the overall Honda entity, and for the auto industry in general,” he said of Honda’s decision.
“I think Honda is clearly is living and struggling with those challenges. I think that was the core issue.
“There’s no question there are economics around the engine that we’re going to address but I think Honda felt those pressure existed today and they had to make some decisions.
“I think on the flip side we actually are getting increasing support, and not just from the players that are in the sport, the OEMs that are in the sport, but OEMs that aren’t.”
F1 is expected to make a big push on sustainable fuels whilst retaining a hybrid element, although full electrification is unlikely given Formula E’s exclusivity agreement with the FIA, which means other series must request permission from Formula E to go all-electric.
Carey added: “They’re actually incredibly enthusiastic about our sustainability future, where we’re going with the next generation engines.
“I think as we continue to put more information out there about our next generation engines and sustainability goals we’re actually getting increasing support and interest from both existing partners and potential new partners about the importance of that to their future.”