PARIS (March 31, 2005) – The Federation Internationale de l'Automobile (FIA) has extended the rule allowing multiple tire suppliers in its Formula 1 world driving championship until 2008, shelving for now discussion of a single tire supplier situation.
The FIA's World Motor Sport Council announced the decision following a March 30 meeting in Paris.
Bridgestone Corp. and Group Michelin supply the 10 teams participating in the F1 championship this year. South Korea's Kumho Tire Co. Inc. has stated it would like to supply teams starting as early as the 2007 season.
The FIA states in its regulations that any tire company wishing to supply tires must notify the FIA of its intention to do so no later than Jan. 1 of the year preceding the year during which such tires will be supplied.
The FIA also stipulates that if there are three or more tire suppliers competing, each of them must, if called upon to do so, be prepared to equip up to 40 percent of the entered teams ``on ordinary commercial terms.´´ When two tire firms compete, as is the case now, each must be able to supply up to 60 percent of the teams.
Teams participating in the F1 championship are invited to a meeting April 15 to discuss the 2008 F1 technical regulations.