Renault And Their F1 Plans

Investment plans in F1 are being looked at by Renault in order to speed up the progress of the same.

The company had initially formed a five year plan in order to start off being in Formula 1. This was planned on the basis of receiving investment from the parent company. The company has plans to return to F1 but in the role of a works team. They are playing down the expectations of the investors and fans. They are currently focused on rebuilding the Enstone team, which was cash strapped and could not do much as the Lotus outfit.

The project has moved into six months till now. The French manufacturer has decided that the wait till 2020 will not be appropriate as by then they would not be in a position to be challenging for the championships. Abiteboul stated to the media that the company had put together a plan for five years. This included a certain amount of investment, but once the project commenced, it realized that the amount would not be appropriate.

The amount of investment was increased and the project timeline was brought forward. The company is focused on making a difference on the race tracks. Hence, it might not be possible to accelerate what they can achieve with the five year plan that has been devised.

Abiteboul announced recently that Lotus had lost about 57 million in pounds in the year 2015. This was prior to the acquisition of Renault and hence, there was no notable impact on the plans of the team. The loss of the unit had been accounted for and it did not come as a shock that would upset the equation or plans. Renault management had been aware of the financial risks involved in Lotus and the plan going forward has been devised accordingly.