The Mercedes AMG Formula One squad has just taken the wraps off the new turbocharged V-6 engine that it hopes will give it an edge over rival teams in the 2014 F1 season, when radical new regulations come into play.

The biggest departure from the current rules will be a switch to the turbocharged V-6 engines instead of the naturally aspirated V-8s currently in use.

Renault was the first to show off its new engine, which, in accordance with the new rules, develops approximately 750 horsepower from an internal combustion engine and a new Energy Recovery System (ERS) and electric drive setup.

Now it’s Mercedes AMG’s turn to reveal its new engine, which, like the Renault, features a main power unit comprised of a turbocharged 1.6-liter V-6 and complex electrical energy recovery and drive system.

Mercedes AMG hasn’t mentioned any specifics, though its new engine is likely to feature a similar setup to that of the Renault. This means a 600-horsepower V-6 and two electric motor-generators: one adding a maximum 120 kilowatts (161 horsepower) to the car’s output, and either helping drive the car or topping up the batteries, and the second either helping spool up the engine’s turbo or topping up the batteries.

In addition to revealing its new engine, Mercedes AMG has also announced it has extended its supply deal with Force India, a deal which dates back to 2009. Under the new long-term agreement, Mercedes AMG will supply to Force India a complete Power Unit (internal combustion engine plus ERS), transmission and all associated ancillary systems.

Crucially, Force India becomes the first customer of Mercedes AMG’s new engine. It’s not clear yet whether long-time partner McLaren will remain a customer. Recent reports have suggested that the Honda may make a return to F1 as an engine supplier to McLaren, though there’s been no official comment from any of the parties involved.