No, Honda and Ilmor cannot re-badge their Indy V6 engines for F1

The FIA and FOM are going to ask engine manufacturers to tender for the supply of a 2.2 liter twin turbo V6 engine from 2017.
Some of the first comments that I saw on discussion forums were that it would be easy for Ilmor (who provide engines for Chevrolet) and Honda to re-badge their Indy V6 turbo engines for use in F1 from 2017.
Nope, this is not going to happen, for commercial and technical reasons.
Leaving aside the question of whether an existing engine supplier in F1 is allowed to bid on the new engine contract (I am unable to determine whether that will be allowed), it is difficult to see why Honda would want to bid on this contract when they have a program under the current regulations. Now…Mugen might bid on it, or Honda could fund another third party to develop a second tier engine (as they did in 1988, when they sponsored John Judd’s V8 F1 engine program in order to help keep F1 grids full).
Ilmor appear to have no such restrictions, although they have been helping Renault this season with ICE design and reliability. Nobody knows how that contract might restrict their own involvement in F1 as a separate entity.
That is just the commercial side. The real issues are in the technical regulations, in several key areas.
1. Size and weight
The Indycar engine formula was designed to minimize costs of development and operations. The engines have a minimum box size (i.e. a minimum overall set of engine dimensions) that is a very large by F1 standards. They also have a minimum weight which is also high by F1 standards. Both of these rules were introduced to the series to prevent suppliers from engaging in “arms race” spending to reduce the size and weight of their engines, as was happening in F1 at the time. A visual image of an Indy V6 shows an engine that is tall and large by modern F1 standards.
2. Rotational speed
Current Indy V6 engines are limited to 12200 rpm. This is an rpm limit substantially below that of the current F1 engine technical regulations and ICE capability. In practice, current F1 engines are rarely exceeding 12000 rpm except in qualifying, due to current fuel flow limits. However, those limits are due to be lifted for 2017 and beyond, which means that ICE rpm will be a lot greater than 12000 in races.
3. Boost levels and power outputs
The boost levels in Indycar, as they have been for a long time, back to the CART era, are modest compared to the historical and current boost levels in F1. The maximum current boost level allowed in Indycar is 1.6 bar (23.2 psi) which is substantially less than boost levels in F1. Indycar engines, because of the lower boost levels, rotational speeds and fuel, do not use intercoolers.
Because of the modest boost levels and rotational speed limits, Current Indy engines generate a maximum of 750 bhp. Current F1 engines are generating 800-850 bhp in races and in excess of 900 bhp in qualifying. The F1 power outputs are expected to rise above 1000bhp when fuel flow limits are increased in 2017.
4. Fuel
Indy engines use 85% ethanol, which has a massive latent heat of evaporation, which reduces thermal stress in the top of the engines. F1 uses gasoline, which has less of a cooling effect.

To sum up: the current Indycar regulations have created an engine which, compared to the current hybrid F1 V6 engines, is heavy, large, with lower rotational speeds, boost levels, no intercooling, and no energy recovery systems. Even a basic F1 V6 turbo engine for use from 2017 onwards will need to be capable of much higher rotational speeds and boost levels in order to generate competitive power outputs, while being much more compact and lighter than current Indycar engines. This will require a brand new custom engine design, not an adaptation of current Indycar engine designs.

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