F1: Renault Buys Lotus Team, Will Return As Works Unit
By Mark Gero
After many months of waiting, it is finally here…and in a positive result in F1 via Renault.
On Thursday night, Group Renault boss Carlos Ghosn made the decision to finally allow Renault to officially buy out the current Lotus F1 team and make it a full works Renault squad that will become part of the 2016 formula one world championship.
This follows the September announcement that the French manufacturer, who sold their shares five years ago to Lotus themselves, signed the letter of intent to buy back the Enstone , England, based team . This comes just days of having to return to British courts if a deal was not reached to put the Lotus team into administration. The deal will save everything on the squad, with the chassis being done at the team headquarters in England, and the engine company remaining for research and development in Viry-Chatillion, near Paris, France.
Ghosn’s statement reads as follows: “”Renault had two options: to come back at 100 per cent or leave,” Ghosn said. “After a detailed study, I have decided that Renault will be in Formula One, 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.”
“Renault’s decision to continue its involvement in Formula One is confirmation that it sees motorsport as an essential part of the brand’s identity,” the Renault press release read. “Formula One is the ultimate symbol of the passion for automobiles.
“In addition to attracting many customers, Formula One also fuels employee motivation. As the pinnacle of motor sport, Formula One demands technological and operational excellence. The championship serves as a showcase for the technological expertise that Renault dials into its products for the benefit of its customers.
“Formula One is a means for Renault to accelerate development and remain at the forefront of the sport’s technological progress. It simultaneously allows Renault to build bridges between the advanced technologies seen in the world championship and its road cars, particularly in the fields of electric and hybrid vehicles.
“Formula One is one of the sports that enjoys the most media coverage worldwide thanks to a following on five continents, particularly in emerging markets. It attracts 450 million television viewers annually and its scope for growth is enormous thanks to opportunities founded on new technologies, social networks, video games, etc. that have yet to be fully exploited.”
As this press release was sent out to the media, immediately afterwards, the former two engine suppliers that Renault used this past season, announced that they would be making changes.
Firstly, Toro Rosso, Red Bull Racing’s sister team, will be changing over to Ferrari engines for next season. The terms on how the contract are not known at this time. For Red Bull, they will return to Renault power, but with an unbranded engine that will be named after the Swiss watch manufacturer, Tag-Heuer, who will in addition, use the product following 30 years of it being at McLaren. The engines will also be in the care of the Illmor racing Engine Company and its main employee, Mario Illien of Switzerland, who will be consulting for the team.
Next: F1 Season In Review 2015
It is still unknown though, whether Illmor will consult for the engines on the works Renault team, following being rejected earlier in the season and having their customer power supply net no results this past year.