Renault finds itself on shaky ground outside of racing, but the French outfit remains committed to Formula 1 entering 2020 and beyond. Interim CEO Clotilde Delbos confirmed the constructor’s continued F1 plans on Friday. 

“F1 we said publicly, and we confirm that we intend to stay in Formula 1,” Delbos said. “Actually the news about new regulations, new cap, in terms of investment, is very good for us, because we as you know had less investment in this area compared to some of our competitors which were spending a lot of money. So, F1, we are here, and we stay in Formula 1.”

F1 is part of Renault’s global marketing plan, with the team currently fielding one of the sport’s most popular drivers in Daniel Ricciardo. Renault has endured a difficult year, following the Carlos Ghosn scandal with massively declining car sales due to the pandemic. The group is reportedly cutting around 15,000 jobs – roughly 10% of its workforce – to try to find $2.23b in savings over the next three years. 

That led to worries about the organization’s F1 future, but it appears Renault remains committed to the tour. It will need to find a new driver, with Ricciardo jumping ship to McLaren next year. Among the rumored competitors are Fernando Alonso and potential silly season surprises like Sebastian Vettel or Valtteri Bottas, though the team could also look toward its Formula 2 drivers or back to former driver Nico Hulkenberg for a more realistic option. 

Source: Stockcargazette.com