Renault confirms return to Formula 1

Renault again will have its own team in Formula 1 after almost completing take over the Lotus team.

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Starting from next year, 12 time Formula 1 Constructors’ champion, which is active in the sport almost 40 years, is ready to run factory team and have an intention not just to be competitive, but also to accelerate development of both their own cars and Formula 1.

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Principal contracts between Reanult and Lotus were signed on Thursday and follows Letter of intention announced in September. Speculations over teams future are now ended with probably best possible outcome and Renault is ready to return on path which was broken in 2009 when the team was sold to investment group Genii Capital.

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“Renault had two options: to come back at 100 percent or leave. 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,” said Carlos Ghosn, Renault’s Chairman and CEO.

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Photo: renaultsportf1.com

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