Red Bull will continue to use Honda engines despite the auto manufacturer pulling out of Formula 1 after agreeing to take over their power unit operations.

Next year will be Honda's last in the sport, at which point Red Bull will continue to use their engines until the new regulations begin in 2025.

Red Bull announced they have formed a new operation called Red Bull Powertrains Limited to run the engines until the new regulations.

Red Bull sister team AlphaTauri will also run the engines.

All 10 F1 teams agreed to an engine freeze from 2022 until the new regulations begin in 2025, allowing Red Bull and AlphaTauri to run the Honda engines without having to fund their costly developments each year.

"We have been discussing this topic with Honda for some time and following the FIA's decision to freeze power unit development from 2022, we could at last reach an agreement regarding the continued use of Honda's hybrid power units," Red Bull advisor Helmut Marko said.

Red Bull team principal Christian Horner said the move was made with a long-term view and opened the possibility of Red Bull producing their own power units independently from 2025 on.

"It needs to be a long-term view, because obviously investment into the facilities to gear up for this are quite significant,” said Horner. “So you’ve got both the short-term scenario of the existing regulations and then of course whatever the new regulations are, we need to be in a position to obviously take that on as well.

“Strategically this is a big commitment by the group, it shows their commitment to F1 as well. To bring it on site, on campus here in Milton Keynes is an enormous undertaking and one which truly integrates the power unit into the chassis. I think that we have taken control our own destiny in that respect.

"We will have a facility capable of designing and operating the next generation of engines with a facility that will be invested within here.

"We won’t be beholden upon having a partner, so we’ve got the independence to do it ourselves. If an exciting partner comes along then of course it makes sense to look at it very seriously."