Hybrid engines are here to stay in Formula 1, the sport has announced.

For 2014, the sport switched from loud and popular normally-aspirated engines to the current, more expensive and complex hybrid 'power unit' era which has been utterly dominated by Mercedes.

Recently, there have been rumours about the next generation of engine regulations for the post-2025 period.

"Formula 1 has long served as a platform for introducing next generation advancements in the automotive world," Formula 1 said in a statement on Thursday.

"We believe we have the opportunity to do that with a next generation engine that combines hybrid technology with sustainable fuels. Therefore a working group of F1 and FIA personnel has been set up to investigate a future engine formula powered by sustainable fuels," it added.