Formula One manufacturers have rejected proposals for an alternative engine for the 2017 season and have instead agreed on a plan to cut down engine costs.
The governing International Automobile Federation (FIA) said in a statement that there had been four credible expressions of interest from companies interested in supplying a cheaper alternative engine from 2017. The proposal had, however, failed to win approval at meetings at the FIA's Paris headquarters on Tuesday.
Formula One has four engine makers - Ferrari, Honda, Mercedes, and Renault - supplying the 10 teams.
"The parties involved have agreed on a course to address several key areas relating to Power Unit supply in Formula One," the FIA statement said.
It listed the key areas as a guaranteed supply, a reduction of the cost for customer teams, simplification of the technical specification and improved noise.
"The manufacturers, in conjunction with the FIA, will present a proposal by 15 January, 2016, that will seek to provide solutions to the above concerns," the FIA said. "The proposal will include the establishment of a minimum number of teams that a manufacturer must supply, ensuring that all teams will have access to a Power Unit. Measures will also be put forward to reduce the cost of the supply of hybrid Power Units for customer teams, as well as improving their noise."
The FIA said all parties had agreed to try and implement the change for the 2017 season at the earliest and 2018 at the latest.