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• Carlos Ghosn announces his decision that Renault will return
to Formula 1 with its own team for 2016 season.
• Renault, 12-time Constructors’ Champion with nearly 40 years
in the sport, is an iconic brand in Formula 1 and intends to
play an active role in the sport’s development.
• F1 is a technology showcase and accelerates development of
Renault’s innovation and range of sports cars.
Following the September announcement of the signing of a Letter
of Intent with Lotus F1 Team, teams at Renault continued to
evaluate the possibility of a return to Formula 1. Particular
attention was paid to competing successfully with its own team
in a financially sound way starting in 2016.
“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 1, 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.
As a full team, Renault will take maximum benefit from its
victories. The payback as an engine supplier proved to be
limited. The return on the investment necessitated by the new
engine regulations and the return in terms of image were low.
Work continues on finalizing the terms of the acquisition of
Lotus F1 Team in the shortest timeframe possible. The principal
contracts were signed on December 3, 2015. Lotus F1 Team
effectively stands out as the best partner. Renault and Lotus F1
Team have known each other for 15 years and were world champions
together in 2005 and 2006.
Renault has had uninterrupted involvement in Formula 1 for
almost 40 years. In 1977, it revolutionised the championship
with the introduction of turbocharging, a technique that soon
became the norm in the sport. Renault has since taken part in
more than 600 grand prix, claiming 168 race wins, 12
Constructors’ titles and 11 Drivers’ crowns.
Renault’s decision to continue its involvement in Formula 1 is
confirmation that it sees motorsport as an essential part of the
brand’s identity. Formula 1 is the ultimate symbol of the
passion for automobiles. Passion defines Renault as expressed by
its brand signature, ‘Passion for Life’. In addition to
attracting many customers, Formula 1 also fuels employee
motivation. As the pinnacle of motor sport, Formula 1 demands
technological and operational excellence. The championship
serves as a showcase for the technological expertise that
Renault dials into its products for the benefit of its customers.
Formula 1 is a means for Renault to accelerate development and
remain at the forefront of the sport’s technological progress.
It simultaneously allows Renault to build bridges between the
advanced technologies seen in the world championship and its
road cars, particularly in the fields of electric and hybrid
vehicles. Consistent with its commitment to F1, Renault will
develop its R.S. range by stepping up investment in order to be
active on every continent and in even more segments with
vehicles that meet the needs of their different markets.
Formula 1 serves to promote awareness of the Renault brand and
its image in all its markets across the world. Formula 1 is one
of the sports that enjoys the most media coverage worldwide
thanks to a following on five continents, particularly in
emerging markets. It attracts 450 million television viewers
annually and its scope for growth is enormous thanks to
opportunities founded on new technologies, social networks,
video games, etc. that have yet to be fully exploited. |
