OFFICIAL: Renault will remain active in Formula 1 after 2020
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- GPblog.com
Renault will remain active in Formula 1 after 2020. The French factory team has just brought this out through its own official channels. Because of the heavy impact of the corona crisis, the future of Renault was uncertain according to various reports, but it has become clear that we can continue to admire Renault in the pinnacle of motor racing in the coming years.
The committee is so confident about the new course Liberty Media wants to take in Formula 1. The new rules, which also include the budget cap, have fallen well with the French brand. Renault hopes to compete with the top teams with the new regulations.
Substantial cutbacks at Renault
On Friday, the car manufacturer announced a plan to save around two billion euros in costs over the next three years. Fortunately, that plan also includes room for running a Formula 1 team.
Executive director Clotilde Delbos states in a statement: "We have already publicly stated this and now we can officially confirm that we will continue to participate in Formula 1".
Renault satisfied
"The new rules on a budget cap are very favourable for us because we now have to invest less in this sport than some of our competitors, who spend a lot of money", says the French top man.
In 2016 Renault returned to Formula 1 with its own factory team, but major successes were delayed despite significant investments (such as bringing in Daniel Ricciardo). In 2019 Renault finished fifth in the constructors' championship, with considerably fewer points than its main competitor McLaren.