Lewis Hamilton says he has bigger targets in mind this season than winning what would be a record eighth Formula 1 world drivers' championship. 

Explaining why he's only signed up for one more year with present F1 team Mercedes, Hamilton said: "Firstly I’m kind of in a fortunate position where I’ve achieved most of the stuff that I’ve wanted to achieve up until this point, so there’s no real need necessarily to plan too far ahead into the future. 

"I think we live in quite an unusual period of time in life and I just wanted one year. Then we can talk about if we do more and keep adding one if we have to."

A fourth successive title win last season meant Hamilton has now matched Michael Schumacher's career record of seven world crowns, but the British driver's focus this year won't just be on setting a new benchmark  

Speaking at the launch of Mercedes' W12 car for the new F1 season, Hamilton was asked about his main priority for 2021. 

"In the past it was just about winning championships," he said. "But last year there was a lot of discussion about equality and inclusion and I think there was a lot of talk. 

This year it’s all about pushing for diversity and really making sure that action is taken - Lewis Hamilton

"This year it’s all about pushing for diversity and really making sure that action is taken. That’s kind of at the core of the drive for me. 

"But of course we exist to win. That’s what all these guys and girls here are working towards so that’s my goal, to deliver that for them."

Mercedes boss Toto Wolff said he had no concerns about Hamilton's short-term deal and fully backed his driver's sentiments. 

"[I have] no doubt about his commitment," Wolff said. "First of all, he enjoys racing a lot. We enjoy working with each other and we discussed that a lot.

"But he’s absolutely right. The times change, with new priorities for all of us in terms of the way we live, our health. He is very passionate about his initiatives against racism and inequality.

"We have agreed that we want to pick up the [contract] discussions much earlier this year to avoid a situation like we had in 2020, to run out of time and be in the uncomfortable position that we have no time left before the beginning of the season."

F1 returns to action with the Bahrain Grand Prix from March 26-28 with potentially 23 races making up the new campaign.