F1: Budget cap will not prevent Mercedes from all-new 2024 car

–by Mark Cipolloni–

Mercedes says plans for a “fundamental” overhaul of its Formula 1 car for 2024 will not be held back by cost cap limitations.

In a Sky Sports interview, Mercedes boss Toto Wolff says that they have done a thorough analysis of its cash flow, and says it is well on track to do what it wants for the W15 without needing to worry about over-spending.

“We have set up a huge organization in our financial department of 46 people, that monitors the cost cap down to the last screw,” he explained.

“It follows the trend of spending during all of the year and what we’ve done is basically allocated resources to various projects.

“We stayed below that line all year last year, and we’ve stayed below that line this year. Considering a normal development switch for next year, this is still pretty much on track.

“The good thing is that we are constantly learning about what the car is doing. There are going to be some fundamental design changes for next year, but it’s not that we’re building stuff. It’s more what are we simulating – and that is not measured in money. It’s teraflops or wind tunnel hours.”