Renault to set to return to the Formula One scene as a constructor after a confirmed decision that it will be taking over the Lotus team.
Debates of Renault potentially acquiring Lotus and the signing of the intent had been gaining attention of many for the past ten weeks and after a long time of negotiating, it is now committed. The principal contracts have been signed, even though there are claims of the takeover being incomplete.
“We had two options: come back 100% or leave. After a detailed study, I decided Renault will be in F1 from 2016,” said Chairman Carlos Ghosn as quoted from BBC.
“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.”
Ghosn had made up his mind that Renault will be better off at being a constructor and running its own team as its relationship with Red Bull had been disastrous in 2015.
Red Bull Racing was set to partner with Renault until the end of 2016 but the deal was broken off few months ago in order to seek a different engine, following a string of disappointing results. However, after being rejected by top notch Mercedes and also Honda alongside not being able to secure a deal with Ferrari, Red Bull will again use the Renault engines next season, but as a customer instead of a factory partner.
“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.
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