Ferrari is planning to work o꧑n a new Formula 1 engine for 2021 in a bid to claw back performance with its power unit.

The Italian outfit has endured a difficult start to 2020 after being hampered by a lack of engine power compared to last year, with the team currently occupying sixt💯h place in the constructors’ championship.

As a result, ♔Ferrari will spend a large amount of its permitted development allocation for next season on its engine, much like Honda - despite the Japanese manufacturer’s decision to quit the championship at the end of 2021.

“We don’t have currently the best engine, that’s right,” Ferrarꦯi team principal Mattia Binotto said. “I think that next year we may have a completelyཧ new power unit, that’s per regulations.

“As Ferrari, we have invested a lot in the development of the power unit for 2021, furthermor🎶e for 2022. It’s true the engine is currently running on the dyno. I think that the feedback in terms of performance and reliability is very promising.

“We’ve got as the question, dyno limitation, that’s down to us somehow to be efficient in the way we’re planning all the tests with the dyno, maybe be creative in the way we are apꦿproaching the testing but I think that even if we have got some limitations on dyno operations there’s still room for improvement.

"From what I can see today at the dyno, somewhat happy with𓆏 the results.”

Honda’s CEO Takahiro Hachigo💎 recently stresse🦂d the company would not stop development work before it leaves F1.

"We still ha𓄧ve seven races to go this season,” he explained. ✃"Next year, we have another season, and then we'll do our very best to try to win.

"For next year we will launch our new power unit so that we can do well tog𝔍ether with Red Bul🐎l. And we are going to aim for the season championship."