Renault will return to Formula One racing as a works entrant in 2016, the French manufacturer announced on Thursday.
The confirmation comes more than two months after Renault signed a Letter of Intent to acquire a controlling share in Lotus - the team it operated from 2002 to 2009. Principal contracts between the two parties were signed on December 3, though Renault say work continues on finalising the terms of the acquisition “in the shortest timeframe possible”.
“Renault had two options: to come back at 100 percent or leave,” said Carlos Ghosn, Renault’s Chairman and CEO. “After a detailed study, I have decided that Renault will be in Formula One, starting in 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.”
(source: f1.com)
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