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.
Ferrari could pull out of F1 over single engine
