Honda's F1 chief says it is a "real shame" that the Japanese manufacturer is pulling out of the sport at the end of this year.

Although the carmaker is tipped to help Red Bull run the operations of the current works engine program from 2022 and beyond, Honda will no longer be officially involved in Formula 1.

"It is a real shame that at the end of the year we can no longer challenge ourselves in Formula 1," Honda's F1 boss Masashi Yamamoto is quoted by the Japanese-language note.com.

"However, we have to look at it positively. We can also say that we have another year to challenge ourselves. We saw in 2020 how high our rivals set the bar."

Indeed, while Mercedes has utterly dominated in the 'power unit' era, Honda will have a new engine for 2021 to supply to likely title contender Max Verstappen and the other Red Bull-entered cars this year.

"We are work around the clock, without a break, to be able to beat our rivals this year," Yamamoto continued. "I believe 100 percent in the strength of Honda and I know that Red Bull and Alpha Tauri are very eager."

He said Honda will not use its final year in Formula 1 to ramp down the intensity of the current program.

"Now that the new year has started, our program is completely flat out," said the Japanese. "In 2021, we focus on even more success and we will continue to challenge ourselves.

"We therefore want to ask for your support until the very last metre."