Ferrari says it could pull out of Formula One if the sport's governing body goes ahead with plans to have a sole engine and transmission supplier beginning in 2010 to cut costs.
Following a board meeting on Monday, Ferrari said in a statement that it agrees there is a need to cut costs in F1 amid the global financial crisis, however it said that introducing a standardized engine would eliminate the essence of a sport "based on competition and technological development."
Ferrari said it could review its presence in F1 if the new rules are introduced.
