Renault president: F1 is getting stronger

With the sport currently enjoying a battle between Ferrari and Renault, with McLaren not far behind, plus the threat of a breakaway series having been averted, Ghosn believes the future looks good for Grand Prix racing.

"I believe Formula One is getting stronger, and becoming increasingly popular, thanks to a healthy competitive situation," he said. "Four or five years ago, you knew who would be on pole and win.

"Now, there is more suspense, more competition, and at least three teams capable of winning at the highest level. That is important, because we are here for the public - to give them a good show including technology, including heroes and a competition between the teams.

"Formula One now has a good commercial agreement in place, a good vision for the technology in the sport, and healthy competition. These are good signs for the future."

Ghosn's feelings about F1 come with Renault pledging their long-term future to the sport, and the promise of the necessary funds for his team to continue winning.

"When we are in Formula One, we want to be at the top level, and we will provide the necessary funding," he explained.

"The Renault-Nissan Alliance has the second-highest market capitalisation in the automotive industry, and it is second in terms of profitability.

"Providing a budget is not the issue, and indeed we are in a stronger position than many of our competitors.

"Our team exists to achieve performance. We will not set a budget, and see how much we can achieve with it. Quite the reverse: the team is winning, they are doing a very good job, and we will give them the means to carry on doing so."