Renault commits to long-term F1 stay

  • Published on 29 May 2020 10:47
  • comments 0
  • By: Fergal Walsh

Renault has asserted that it is targeting a long-term stay in Formula 1 amid rumours that its position in the sport going forward is in question.

The French manufacturer states that F1's new budget cap, which was confirmed earlier this week, is “very good news” for the team.

Renault has two drivers' and constructors' world championships to its name, which came in 2005 and 2006 before its results took a decline in the second half of the 2000s.

After handing the team over to Lotus in 2011, Renault returned as a team in 2016, with its results improving year-on-year until it endured a tough 2019 season, losing out on fourth place in the constructors' standings.


MOREBrundle: Renault should invest in infrastructure rather than Vettel

MORERenault not rushing to secure second 2021 driver


With its F1 future in doubt, Renault announced a new strategy in which it has outlined how to save €2 billion over the next three years.

Roughly 15,000 Renault staff members are expected to be laid off, while production of the Alpine A110 sports car is to be halted. 

However, withdrawing from F1 is not on the cards: “F1 we said publicly, and we confirm that we intend to stay in F1,” Renault’s interim CEO Clotilde Delbos said.

“Actually the news about new regulations, new cap, in terms of investment is very good for us, because we had less investment in this area compared to some of our competitors which were spending a lot of money. So, F1 we are here, and we stay in Formula 1.”

Earlier this week, Renault's F1 managing director Cyril Abiteboul stated that the team was not looking at exiting in the sport in the near future, affirming it remains loyal to F1. 

"We've been in Formula 1 since the '70s,” he said. "We've been loyal to Formula 1 and clearly as we look forward I think it's important to stay true to your roots, to where you're coming from, to your history, not just because of loyalty but also because it means something in the narrative that you can appeal to today's and tomorrow's customers.

“Motorsport has a unique value and contribution into it. That's why we believe in it, just like we believe in a number of marketing activities, except that it's sport, except that it's been a core of technology.

"That's racing, that's emotion also, and Renault stands for emotion. So all of that means a lot. And that's why we've been in this for decades and we intend to do so for very long.”

Replies (0)

Login to reply

BE Grand Prix of Belgium

Local time 

BEGrand Prix of Belgium

Local time 

World Championship standings 2023

Show full world champion standings

Test calendar

See full test schedule

Related news

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Formula 1 Calendar - 2023

Date
Grand Prix
Circuit
-
Bahrain
3 - Mar 5
Bahrain
17 - Mar 19
Saudi Arabia
31 - Apr 2
Australia
28 - Apr 30
Azerbaijan
5 - May 7
United States of America
19 - May 21
Italy
26 - May 28
Monaco
2 - Jun 4
Spain
16 - Jun 18
Canada
30 - Jul 2
Austria
7 - Jul 9
United Kingdom
21 - Jul 23
Hungary
28 - Jul 30
Belgium
25 - Aug 27
Netherlands
1 - Sep 3
Italy
15 - Sep 17
Singapore
22 - Sep 24
Japan
20 - Oct 22
United States of America
27 - Oct 29
Mexico
3 - Nov 5
Brazil
17 - Nov 19
United States of America
24 - Nov 26
United Arab Emirates
See full schedule

Formula 1 Calendar - 2023

Date
Grand Prix & Circuit
3 - Mar 5
17 - Mar 19
Saudi Arabia Jeddah Street Circuit
31 - Apr 2
Australia Albert Park
28 - Apr 30
Azerbaijan Baku City Circuit
5 - May 7
United States of America Miami International Autodrome
19 - May 21
26 - May 28
Monaco Monte Carlo
2 - Jun 4
16 - Jun 18
30 - Jul 2
Austria Red Bull Ring
7 - Jul 9
United Kingdom Silverstone
21 - Jul 23
Hungary Hungaroring
28 - Jul 30
25 - Aug 27
Netherlands Circuit Zandvoort
1 - Sep 3
Italy Monza
15 - Sep 17
22 - Sep 24
20 - Oct 22
United States of America Circuit of the Americas
27 - Oct 29
3 - Nov 5
Brazil Interlagos
17 - Nov 19
United States of America Las Vegas Street Circuit
24 - Nov 26
United Arab Emirates Yas Marina Circuit
See full schedule

Team profile

Show full profile
show sidebar