“The Renault F1 Team today confirmed a cooperation agreement that will see branding from Lada, Russia’s leading automotive marque, feature on the chassis of the Renault F1 Team R30 race cars during the 2010 season. This landmark agreement was formally signed in Moscow last Monday, March 1. Russian Prime Minister Vladimir Putin also gave the agreement his public endorsement,” said an official statement from the Enstone based team.
“We are proud to announce this new agreement, which marks another important step for the Renault F1 Team and Formula 1 in Russia,” said Renault F1 Team Chairman Gerard Lopez, also Genii Capital boss.
“Through Mangrove Capital we have been actively investing in Russia over the last years. We know the country well, we have a high degree of appreciation for it and, as such, it is an honour for our F1 team to spearhead Russia’s entry into the sport and to carry the Lada brand at the highest level of world motorsport. We look forward to an exciting and successful season together,” added Lopez.