Formula 1‘s governing body, the FIA, has extended its contract with Pirelli as the sole tyre supplier by one year to 2024 on Friday to reflect disruption caused by the COVID-19 pandemic.
It said the extension was in the best interests of all stakeholders.
The most recent 2018 tender was for the supply of 13-inch tyres during the 2020 season and then three seasons of 18-inch tyres.
The pandemic triggered emergency measures and led to the postponement to 2022 of the 18-inch tyres, along with major rule changes.
FIA president Jean Todt said the change of tyre size represented a significant technical challenge and investment for Pirelli.
“In light of this, and the necessary postponement of the new regulations as a result of the pandemic, it is only logical to extend the supply of tyres accordingly,” he added.