Running a Formula 2 car is estimated to cost around US$3 million per season. In most cases, drivers must cover these expenses themselves, either through sponsorships or personal and family resources. These high costs remain one of the principal barriers to progressing into Formula One. To ease the financial burden, the FIA has implemented a number of cost-control measures, including freezing car specifications and reducing the number of venues, most notably with changes introduced for the 2021 season. , all teams in the FIA Formula 2 Championship compete with an
identical car built around a carbon-fiber
Dallara chassis and powered by a
single-turbocharged Mecachrome V634 engine, which is next scheduled for an update in 2029. The car is expected to weigh a minimum of , with the driver, and is equipped with a
Hewland-supplied gearbox featuring an eight-position barrel with ratchet body and software refinements that improve gear selection. Clutches are supplied by
ZF Sachs and operated through a hand-paddle lever. Since the inception of the
GP2 Series in 2005, the
OZ Group has been the sole wheel supplier. In 2020, the category moved from to magnesium-alloy wheels inspired by road-car designs. This change, made in anticipation of Formula One's 2022 wheel regulations, also allowed closer data sharing between the two series.
Pirelli has exclusively supplied tyres for Formula 2 since 2017. They currently provide four slick options: a purple supersoft, red soft, yellow medium, and white hard. A single wet compound with a blue sidewalls is also supplied during rainy conditions. The cars are equipped with a standard FIA Premier FT5 safety tank with a maximum capacity of 125 litres. Refuelling during races, however, is prohibited for safety and cost control reasons. In 2023,
Aramco became the official fuel partner for the series, providing all entrants with standardised fuel. driving the
Dallara F2 2024 at
Silverstone Circuit for
Prema Racing. Driver control systems remain deliberately simple. Steering is rack-and-pinion and entirely manual, without power assistance, similar to the
IndyCar Series. XAP Technology has supplied steering wheels since 2011, with the current Formula 2451 S3 model introduced in 2018. It includes six front-facing buttons, five rear paddles for DRS, gear shifting, and clutch operation, as well as three rotary switches, closely resembling the layout of its
Formula E counterpart. Electronics are also standardised across the grid: all cars carry a Marelli Marvel SRG 480
electronic control unit and a Marelli PDU 12-42 power supply management unit.
Telemetry is limited to broadcast purposes, though teams may access data when the car is in the garage. Since 2015, the series has also employed the
Drag Reduction System (DRS), which lowers the angle of the rear wing's upper element by more than 40 degrees to aid overtaking when a driver is within one second of a rival. The system is deactivated automatically in wet conditions for safety. Despite being slower than
Formula One cars, Formula 2 remains amongst the fastest single-seaters in motorsport, capable of reaching top speeds of around 335 km/h in low-downforce configuration. Their distinguishing performance lies in cornering and braking, where downforce allows up to 3.9 g of lateral acceleration and 3.6 g under braking, compared with 2.6 g for
Formula 3 and around 1.7 g for production-based
Porsche Carrera Cup cars. As an example of the differences between the FIA formula categories, at
Albert Park Circuit, the Formula 2 lap record stands at 1:28.989, compared with 1:19.813 for Formula One and 1:33.025 for Formula 3. As
Liam Lawson, a driver with experience across F1, F2, and Japan's Super Formula, noted in 2023, the latter category is "faster than Formula 2, a lot closer to Formula 1, and sometimes it even feels like F1 in some corners. Downforce is pretty exceptional." At the same time, speed has also been progressively reinforced over the series’ history. Each car must meet FIA standards for frontal, side, rear, and steering-column impact tests and is built with roll hoops, impact structures, and push-tested monocoques. Anti-intrusion survival cells have been mandatory since 2011, alongside wheel tether cables to reduce the risk of wheels detaching in crashes. The
halo driver crash-protection device was introduced in 2018. == Media coverage ==