Ferrari is planning to work on a new Formula ꦅ1 engine for 2021 in a bid to claw back performance wi𝓰th 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 six🍌th 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,” Ferrari team principal Mattia 𝕴B🥃inotto said. “I think that next year we may have a completely new power unit, that’s per regulations.

“As Ferrari, we have invested a lot in the development꧑ of the power unit for 2021, furthermore for 2022. It’s true the engine is currently running on the dyno. I think that the feedback i🥂n 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 approaching the testing but I think that even if we have got some limitations on dyno operations there’🔥s still room fℱor improvement.

"Fro🧸m what I can see today at the dyno, somewhat happy with the results.”

Honda’s CEO Takahiro Hachigo recently st🦩ressed the company would not stop development work before it leaves F1.

"We still have seven races to𝓰 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 together🌊 with Red Bull. And we are going to aim for the season championship."