Renault has confirmed its return to F1 with the purchase of the Lotus team. It’s bizarre to do that late on a Thursday night but at least it is done.
“Renault had two options: to come back at 100 percent or leave,” said Carlis Ghosn. “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.”
The company said that payback as an engine supplier “proved to be limited” and that the principal contracts were signed on December 3.
Renault said that it has “taken part in more than 600 Grand Prix, claiming 168 race wins, 12 Constructors’ titles and 11 Drivers’ crowns”. It is a little odd that the company does not know that the plural of Grand Prix is Grands Prix, but the good news is that the firm is back.
“In January, we will provide more detailed information about Renault’s F1 programme ahead of the 2016 championship that begins next March.”