Renault’s new Formula 1 team has put together the budget it needs to take on Mercedes and Ferrari in fighting for glory over the next few years, claims the man who has helped push the resurrection of its works team effort.
Renault finally completed the takeover of Lotus earlier this week following months of talks about a new approach for the car manufacturer in F1.
Speaking for the first time since the deal was complete, managing director Cyril Abiteboul said that Renault’s board was well aware of the costs involved in taking on F1’s current top teams, and was ready to bankroll what it would take to succeed.
