Toto Wolff says the team is facing a big challenge ahead of the start of the 2021 Formula 1 season.
Mercedes go into the new season as the favourites after they won their seventh consecutive drivers’ and constructors’ title last year.
However, the German manufacturer will like all other teams have to deal with the unique challenges of 2021. New technical regulations for 2022 mean that teams will already be working on next season’s cars as well as developing their machines for the forthcoming season.
A budget cap has been introduced for this season and it is something Mercedes will have to adjust to according to Wolff.
“It will be an interesting year for us," Wolff told Autosport, "because we have to structure ourselves in a different way than before because of the budget cap.
“We face a huge challenge, starting with the slightly modified rules for 2021 and the big earthquake of rule changes for 2022. There are certain factors that work against us, which at the same time motivates us enormously.
"On the other hand, there are also factors that work in our favour, because we think [we] have a good organisation. We embrace this challenge, as we have done in the past with all the challenges. We as an organisation are very much looking forward to the year 2022.”
While Sir Lewis Hamilton has not announced a new deal with Mercedes, Wolff signed a new contract at the start of the year which will see him remain as Mercedes team principal after speculation he would leave the role. The agreement sees Wolff become co-owner of the team along with Daimler and INEOS.
“Looking into the future is not always as simple as extending a contract for a while," Wolff added. "It is about the relationship between the different shareholders and what relationship will be like in the future. That’s something that takes time.”