The 2017 Formula One Championship will have two engine options for teams to choose from. Current hybrid engines will continue to be developed by most manufacturers; however, an alternate engine option will be offered to teams without engine manufacturing capabilities.
Currently, Formula One teams are developing and using a 1.5-litre V6 turbo hybrid engine. FIA has issued a notice for engine supplier to develop a 2.2-litre V6 twin turbo engine. These engine options pass the FIA's equivalency formula and will be equal in power, however, power delivery will vary.
This move is being done so that the cost of running a Formula One team is lowered. The new engine option for customer teams is being endorsed by Bernie Ecclestone and Jean Todt. Alternate engine plan will be dropped if existing manufacturers can lower the price of their power units.
Red Bull Racing was recently going to quit Formula One as they did not have a competitive engine. Also the other three teams that provide engines Mercedes-AMG, Ferrari, and Honda has varying issues. Red Bull will continue to be powered by Renault for 2016 and could switch to the alternate engine.
At this moment, Mercedes-powered vehicles are strongest in terms of reliability and pace. Ferrari is moving forward; however, they are still off the pace. The first and second place have consistently been dominated by Mercedes-AMG team while the battle for third is between all others.
Many have called recent Formula One races as boring as two drivers take the lead and disappear. There is not much racing involved, and several teams are quitting over huge expenses. The new engine option and lowering of engine expenditure could bring in more teams and tougher competition as well.