Hamilton looks to challenge towards F1 new rules in 2021

Defending champion Lewis Hamilton said on Friday that he's willing to embrace the challenge towards Formula One's newly approved rules which are designed to develop closer competition in future.

Formula One unveiled its new regulations for 2021 and beyond at the ongoing U.S. Grand Prix and the teams are to be limited to a budget of 175 million dollars per season for their on-track performance, which is about half of estimated current budgets for the top outfits. The changes also include new heavier and slower cars.

"I always love a challenge. This team has shown that they are better prepared and in the best position to be able to react to rule changes, so I know the team is approaching the challenge in an exciting way," Hamilton said.

"As drivers there were certain things we've heard and not necessarily all the decisions taken where what we thought was best for example the cars are heavier and will get slower.

"But I think it's going to be an interesting time. I'm planning to be here so naturally at some point next year my mindset will be to switch into 2021 and wanting to be the pioneer in that era," the British star added.