Following the September announcement of the signing a Letter of Intent with the Lotus F1 Team, Renault Chairman and CEO Carlos Ghosn has decided that Renault will return to Formula One with its own team for the 2016 season.
While Renault have supplied engines to winning teams for many years, this decision will see the team beginning the 2016 season in a more active role, taking maximum benefit from its victories and re-entering the sport as a major competitor.
“Renault had two options: to come back at 100 percent or leave. After a detailed study, I have decided that Renault will be in Formula One, starting 2016. The final details supplied by F1’s main stakeholders gave us the confidence to accept this new challenge. Our ambition is to win – even if it will take some time,” said Carlos Ghosn, Chairman and CEO, Renault.
Renault brings 115 years of winning innovation to the track, with nearly 40 years of uninterrupted involvement in Formula One. In 1977, it revolutionized the race by introducing turbocharging – a technique that quickly became the standard in the sport. Since then, Renault has taken part in more than 600 Grands Prix, claiming 168 race wins, 12 Constructor’s titles and 11 Drivers’ crowns.
The Lotus F1 team has a long and fruitful partnership with Renault, having known each other for 15 years, and becoming world champions together in 2005 and 2006. Acquisition contracts were signed on December 3rd, with moves made to finalise the agreement in the shortest possible timeframe ahead of the 2016 Grand Prix season.
Motorsport is an integral part of Renault’s DNA. Since the very first Grand Prix in 1906, through to some of the most exciting race wins in recent history, Formula One has been a technological showcase, accelerating Renault’s innovation and engineering in its range of sports cars. In many ways, Formula One is the ultimate symbol of Renault’s passion for life, as expressed by the brand’s signature.
More details about Renault’s F1 programme will be provided in January, ahead of the 2016 championship that begins in March.