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In September, a Letter of Intent was signed by Renault officials to buy Lotus and different possibilities were taken into consideration. Renault’s CEO Carlos Ghosn stated that the company’s primary target was to win, and the final details supplied by Formula 1’s main stakeholders gave the company the confidence to make this decision.
The principal contracts on the acquisition of the Lotus F1 Team were signed on December 3, but representatives continue to work on finishing the terms of the acquisition in the shortest time possible. Merging with Lotus was the only logical move, because the two companies have been working together for 15 years and were also world champions in 2005 and 2006.
The decision to return to the Formula 1 scene is also the confirmation that motorsport is an important part of Renault's identity.
The carmaker has been present in the Formula 1 game for almost four decades. In 1977, Renault was the first to introduce turbocharging into the sport. In all of these years, the French carmaker has taken part in more than 600 Grand Prix, claiming 168 race wins, 12 Constructor and 11 Drivers’ Titles.
Renault withdrew from F1 in 1985 and returned in 2000, when it acquired the Benetton Formula 1 team, which had won the Drivers’ Championship in 1994 and both the Drivers’ and Constructors’ titles in 1995.
In 2009, Renault sold 75% of the team to the Genii Capital investment company, and the remaining 25% went to the same entity in 2010, after which it decided to enter into an agreement with Group Lotus. In 2011, the resulting team competed under the name Lotus Renault GP. That was the last year when “Renault” was used as a constructor name in Formula 1.
While it hasn't competed as a constructor in the last couple of seasons, Renault continued to supply engines to other teams and contributed to nine World Drivers’ Championships for some of the biggest drivers in this sport, such as Alain Prost, Michael Schumacher, Damon Hill, Nigel Mansell, Jacques Villeneuve and Sebastian Vettel, and ten World Constructors' Titles for WIilliams, Benetton and Red Bull Racing.
The decision to return to the Formula 1 scene is also the confirmation that motorsport is an important part of Renault's identity.
The carmaker has been present in the Formula 1 game for almost four decades. In 1977, Renault was the first to introduce turbocharging into the sport. In all of these years, the French carmaker has taken part in more than 600 Grand Prix, claiming 168 race wins, 12 Constructor and 11 Drivers’ Titles.
Renault withdrew from F1 in 1985 and returned in 2000, when it acquired the Benetton Formula 1 team, which had won the Drivers’ Championship in 1994 and both the Drivers’ and Constructors’ titles in 1995.
In 2009, Renault sold 75% of the team to the Genii Capital investment company, and the remaining 25% went to the same entity in 2010, after which it decided to enter into an agreement with Group Lotus. In 2011, the resulting team competed under the name Lotus Renault GP. That was the last year when “Renault” was used as a constructor name in Formula 1.
While it hasn't competed as a constructor in the last couple of seasons, Renault continued to supply engines to other teams and contributed to nine World Drivers’ Championships for some of the biggest drivers in this sport, such as Alain Prost, Michael Schumacher, Damon Hill, Nigel Mansell, Jacques Villeneuve and Sebastian Vettel, and ten World Constructors' Titles for WIilliams, Benetton and Red Bull Racing.
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