LONDON - The governing body of Formula One wants to implement further cost-cutting savings by 2010 with teams running on a 50-million euro (C$78.9 million) budget.
FIA sent all teams a detailed document proposing defined regulation changes and a budget decrease that could mean a drop of up to 75 per cent for the larger manufacturers.
The proposals were sent out in December, according to Wednesday's Financial Times, shortly after Honda pulled out of the sport. Honda, which has yet to find a buyer, had a reported budget of 200 million pounds (C$355.8 million) last season.
The move comes as FIA looks to continue slashing costs at a time when auto manufacturers are bearing a heavy brunt from the economic downturn.
The paper calls for the KERS energy recovery system to be used by all teams, as well as standardized parts such as gearboxes, braking systems, suspensions and wheels. Manufacturers would also be obliged to supply technology to independent teams at a capped price should it wish to develop its own systems.
From 2010, independent teams can also purchase a standard gearbox-engine for five million euros (C$7.9 million) that would last for six races.
F1 is already introducing a rash of cost-cutting moves for 2009 which include a ban on in-season testing, longer-lasting engines and aerodynamic changes.
