Renault to make Formula 1 return

Pastor Maldonado will be one of Renault’s drivers subsequent year

Renault is to return to Formula 1 as a constructor soon after deciding that it will take more than the Lotus team.

The French vehicle giant had been debating the decision as lately as final weekend but is now committed.

Chairman Carlos Ghosn stated: “We had two possibilities: come back 100% or leave. Following a detailed study, I decided Renault will be in F1 from 2016.”

Renault stated its takeover of Lotus had not but been completed but will be accomplished “in the shortest timeframe attainable”.

Nonetheless, the firm added that the “principal contracts had been signed” on Thursday.

The move ends months of speculation and secures the future of the team based in Enstone in Oxfordshire, which has in its history won 4 globe titles, two as Benetton with Michael Schumacher in 1994 and 1995, and two as Renault with Fernando Alonso in 2005 and 2006.

Renault sold the team to investment group Genii Capital at the end of 2009 soon after deciding to quit as a constructor but remained involved as an engine builder.

Ghosn has decided that Renault will be greatest served by operating its personal group, a conclusion reached following the breakdown of its partnership with Red Bull.

Grosjean will drive for new team Haas in the 2016 season

Renault and Red Bull won 4 world driver and constructor doubles collectively from 2010-2013 but tension grew following the engine builder’s inability to produce a competitive energy-unit under the new turbo hybrid formula introduced at the start off of 2014.

Red Bull had a contract with Renault