Renault makes F1 comeback

Renault is making a Grand Prix comeback in 2002 after buying Benetton Formula 1 team for £75m ($120m)

Renault makes F1 comeback

The French car giant, which returns with its own works' team following a 17-year absence from F1, announced on Thursday that it would compete under its own colours with a full chassis and engine package.

Renault is expected to spend the next two season developing a racecar and a new generation of V10 engine, with ex-Benetton boss Flavio Briatore taking over as team manager as from next weekend's Brazilian Grand Prix.

Until 2002, the team will continue under the name of Benetton Supertec and its current partners.

Chairman of Renault Sport Patrick Faure said: "We are perfectly aware of the size of the challenge facing us.

"But Renault likes a challenge. It is a company which has shown its daring in all areas of activity and motorsport is no exception.

"Going back to Formula 1 as an engine supplier wouldn't have made much sense, as we have already won everything there is to win. So we chose to go for the only title missing from our sporting achievements today, namely the Constructors' World Championship title under the colours of the Renault team."

Chairman and chief executive officer of Renault, Louis Schweitzer said that he expected the marque to make a return to the sport.

"I said we would return one day to Formula 1," he added.

"It is the pinnacle of motorsport, a school of excellence for responsiveness, agility, technological skills and the ability to surpass oneself.

"I believe today that a Renault team has the capacity to win the world championship and I have every confidence in the men and women of Renault Sport."

Renault ruled out plans to supply a second team.

Patrick Tambay and Derek Warwick were the last Renault works' drivers in 1985.

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