French manufacturer Renault have confirmed they will be returning to Formula One in 2016, taking over the Lotus F1 Team.
After months of waiting and speculation regarding their impending return to the pinnacle of motorsport, Renault have finally confirmed they intend to be on the grid in 2016.
Their intentions to return to the sport were apparent in September when they signed a Letter of Intent with Lotus.
They have yet officially completed the acquisition of Lotus but hope to do so in the shortest timeframe possible.
“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, Chairman and CEO, Renault.
Renault have had a wealth of success in the sport, winning two drivers’ and constructors’ championships in 2005 and 2006.
One-time F1 race winner Pastor Maldonado and 2014 GP2 champion Jolyon Palmer will drive for the French team in 2016.
Renault have also confirmed they will announce their detailed Formula One programme in January 2016.
