Paris - The president of motorsport's governing body FIA Max Mosley is to meet with Formula One teams after the Chinese Grand Prix to discuss lowering costs.

After meeting the president of the teams' association and Ferrari boss Luca di Montezemolo in Nice FIA said that they would be discussing ways to drastically reduce costs.

Mosley also told BBC that smaller teams were being threatened by rising costs, which could reduce the number of cars participating in races. "If we lost two teams, we'd have 16. (If we lost) three teams (we'd have) 14. It then would cease to be a credible grid," he said.

Mosley, who earlier this year survived attempts to oust him from his position after a sex scandal, said that the world economic crisis made it imperative a solution was found.

"It has become apparent, long before the current difficulties, that Formula One was unsustainable. It really is a very serious situation. If we can't get this done for 2010, we will be in serious difficulty," he told the BBC.

The Super Aguri team had to withdraw from this season after failing to find investors.

The FIA World Council had given Mosley the green light on Tuesday to discuss reducing costs with the teams' association. If the talks fail, they might have to lay down rules to reduce costs, FIA said in a statement.