Formula 1 boss Chase Carey says the future engine formula must be "louder, cheaper and better" than the current power unit, which in turn will improve the racing and profitability of teams.
Carey says the current power unit has created too large of a disparity between manufacturers, and although he commended Mercedes for leading the development charge, he believes overall it has been bad for the sport.
"Hats off to Mercedes, who mastered what we have now," he told Auto Bild. "But the difference in performance is too great.
"So we want to simplify things with the motto: louder, cheaper, better."
The 63-year-old says the current budgets aren't sustainable, nor good for competition and a cheaper engine will therefore go someway to reducing costs.
"There are teams that spend $500 million a year right now, while for others it's $100 million. This hinders and distorts the competition.
"The goal must be that the teams can earn money with the sport. Nowadays no team makes a profit.
"Do not get me wrong: we don't want to slow the technology down. Formula 1 will remain a laboratory for manufacturers – but at the same time a sport."
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