Colombian star Juan-Pablo Montoya is pinning his hopes on a heavily revised Williams FW24 that is set to be introduced midseason by the Grove team.

BMW-Williams is Ferrari’s closest rival this year, but despite a win by Ralf Schumacher in Malaysia, the team has been chasing the outfit all season so far. In the past four races, its drivers have finished runner up to Michael Schumacher and Rubens Barrichello.

In Austria on the weekend the team again came away baffled by Ferrari’s pace, especially after feeling confident its car would be more of a match for Maranello’s mighty F2002 at Austria with the A-1 layout suiting the FW24.

Ferrari now leads the constructors’ Championship by 16 points over Grove while Michael Schumacher is 27 points clear of Montoya.

And Williams chiefs, realising that the pressure is beginning to mount on them in the race for the title, are working on a substantial upgrade package for the FW24 that will feature improvements in key areas such as aerodynamics and weight.

‘At the moment with what we've got it will be very difficult to win,’ Montoya said. ‘Michael is a very tough contender, but it really depends on the car; that's the way it works.’

‘In Formula One it is not like you have a car you can start with and win right away. As new parts are put in the car, it evolves. The (revised) car will be a lot closer to Ferrari. The car that will be coming will be the key.’

The upgrade project will mean the FW24 will be substantially enhanced and even given a “B” chassis codename.

Early speculation suggests that the aerodynamics package will be heavily modified, while there could also be a new gearbox. Recently there were claims that the team had commissioned a specialist to design and develop a super light, compact transmission similar to the effective unit Ferrari is using in its F2002.