The FIA met with the newly formed Formula One Teams' Association Tuesday to discuss possible cost-cutting measures that can be taken to slash the escalating costs of the sport.
It has been a topic of much conversation recently that the FIA were going to implement standard-unit engines into all F1 cars as a way of cutting the costs—something that FOTA was not keen to see.
A brief statement released straight after the meeting simply said, "Today's meeting in Geneva has produced significant cost savings for 2009 and 2010.
"FOTA are working urgently on further proposals for 2010 and thereafter."
Nothing else has been released by the FIA or FOTA at this point.
An outline of the meeting was released to the press before the meeting took place, and first on the agenda was the topic of single-unit engines, with three proposals for their implementation set to have been discussed in Tuesday's meeting.
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