Essential to building the world's fastest vehicles, Formula One technology has been sought-after by various global industries and is closely monitored by racing fans who attend the annual Singapore event, which was Asia's first-ever street circuit. Mercedes now lead Ferrari by 62 points - and this weekend represents a great chance for Ferrari, who undoubtedly hold the upper hand in Singapore - to close the gap on the Silver Arrows.
"We're in the early days of the plans we have for the future", Carey said.
History suggests that it could - five of the last six Singapore Grand Prix have been won by the eventual champion that season, including Nico Rosberg, who took the chequered flag by just 0.488s from Daniel Riccardo last term. The kerbs are high and harsh, the road is extremely bumpy in certain locations, and despite the race taking place at night, heat can play a huge role. Besides India, Korea is another country that could not survive in F1 for long. "I think it can bring Ferrari and us right into that battle".
"We are incredibly happy to announce this extension and very proud of our partnership", F1 chief executive Chase Carey said at a news conference at the racetrack.
In the past, F1 has been criticised for striking one sided deals heavily in their favour with local race promoters not getting enough out of the millions of dollars they cough up as hosting fees. This however, is no longer case, as the country has made a decision to renew its contract with Formula 1 until 2021. "As always, I am hoping we can have a good result". We can still do potentially better strategies.