The FIA and Formula 1 has handed Pirelli a contract extension in light of the delays experienced in the introduction of the new 18-inch tyres.
The deal reflects the original intention of the 2018 tyre tender which was the supply of a 13-inch tyre during the 2020 season, followed by three consecutive seasons of 18-inch tyres from 2021 to 2023 inclusive.
Last year's Covid-19 pandemic, however, severely impacted F1 and Pirelli, with the decision taken to defer the introduction of the 18-inch tyres until 2022.
With the 13-inch tyres to again be used for the forthcoming season, the FIA and F1 have decided to extend Pirelli's sole-supply contract through to the end of 2024.
F1 CEO Stefano Domenicali said: "The pandemic caused disruption across the world and Formula 1 was not immune from that.
"We, therefore, took the necessary measures last year to defer the regulations by one year to 2022.
"We are very proud of our partnership with Pirelli and grateful to them for their constructive approach to this timing change.
"Pirelli are very conscious of the strategic role that the tyres have in F1 and we know that they are working very hard to make sure that their products will represent the best balance between performance and durability in the new technical context.
"We look forward to the start of the 2021 season and we are all excited for the new cars and new 18-inch tyres to hit the track under the new regulations in 2022."
FIA president Jean Todt was respectful of the "investment and development" from Pirelli, believing that in light of the postponement of the new regulations as a result of the pandemic "it is only logical to extend the supply of tyres accordingly".
Pirelli CEO Marco Tronchetti Provera naturally expressed his gratitude to the FIA and F1 for the faith shown in the Italian manufacturer.
Tronchetti Provera said: "The world of motorsport has also had to face up to the difficulties caused by the Covid-19 pandemic, but the FIA and FOM did an extraordinary job to organise a 17-race championship in 2020.
"We're obviously pleased to have reached this agreement that will extend our presence at the pinnacle of world motorsport until 2024."
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