BERLIN, Dec 5 (Reuters) - German carmaker Mercedes said on Friday Formula One teams must cut costs by at least 50 percent over the next two years although its own financial position remained solid.
"Within the Formula One Teams Association (FOTA) we're working very hard on measures to cut costs, and over the next two years we must achieve cuts of at least 50 percent," said Norbert Haug, the head of Mercedes Motorsport which powered Lewis Hamilton to victory in this year's ...
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