Mercedes boss Toto Wolff has labelled his team the "underdog" in the "ping-pong" battle he is expecting with Ferrari for the remainder of the 2017 season.
Lewis Hamilton took Mercedes back to the top step of the podium in China after Sebastian Vettel won the season-opening Australian Grand Prix for Ferrari. After two races the pair are level on points in the drivers' championship and Mercedes holds a narrow lead in the constructors'.
Wolff says it is clear that the two teams are very closely matched on pace.
"China was a great way to hit back in the battle with Ferrari," Wolff said. "We are very close on pace and I expect a bit of a ping-pong battle through the season, depending on the track. That's exciting for everyone.
"What we have in 2017 is the perfect situation for the fans and also for us as a team. We are all racers and we are all properly excited for this fight."
Having seen the slim margins at the front Wolff does not want Mercedes to adopt the mindset of reigning world champions.
"Two races into the season and now it is 1:1 between Mercedes and Ferrari. And after racing on a very different circuit, in very different conditions, it's clear that we are very closely matched -- and that small margins will make the difference.
"Our one point lead in the constructors' championship is anything but a comfortable margin. We need to - and we will - keep working with everything we have got to develop our car, correct our errors and continue improving. Our mindset is that of the underdog -- not the champion. And the fight has just begun..."
The 2017 season continues this weekend with the Bahrain Grand Prix.