Renault commits to FE until ‘at least season four’

The Milton Keynes based F1 team made it clear near the end of the 2015 season that they did not want to stay with Renault, but after failing to secure a new deal with a different manufacturer, Red Bull will continue to use the French power unit into the 2016 season, albeit with Tag-Heuer badging.

Magnussen, who replaces the outgoing Pastor Maldonado, will race alongside Jolyon Palmer at the rebranded Renault Sport F1 Team, with GP3 racewinner Esteban Ocon joining as third and reserve driver.

“Everyone wanted a Renault engine. Targets are ambitious, with an objective to win both the Drivers’ and Constructors’ title”. Our collaboration with Renault Sport Formula One Team marks a new milestone for Bell & Ross… the result of an encounter that gave us the desire to work together. Renault Sport Racing is headed by board member Jérôme Stoll as president, supported by Cyril Abiteboul as managing director. Late a year ago, McLaren boss Ron Dennis told Sky Sports that the team had decided not to renew Magnussen’s contract due to lack of performance.

Frederic Vasseur, Racing Director, Renault Sport Racing, said, “The Renault Sport Academy underlines the commitment of Renault Sport Racing to nurture young talent to develop the Formula 1 stars of the future”.

The Renault team also took the opportunity to confirm its driver line-up for the 2016 season. “Formula 1 is a big part of our efforts to boost awareness of Renault, particularly in markets where Renault is a newcomer, and will enhance the transfer of technologies from the track to our road cars”.

“We recognise the fact we are starting with a handicap compared to the victor”.

“The ambition is not just to participate: we have no intention just to make up the numbers”, Abiteboul said. The company says that this new entity “will manage the development and commercialization of the Renault Sport vehicle portfolio”, adding that “Renault Sport will develop its global footprint, brand appeal and portfolio growth with increased R&D investment”. He remains an adviser to Carlos Ghosn for everything related to motor sport, in addition to being Renault ambassador and co-shareholder in the Renault e-DAMS Formula E.