12 May 2024
Renault boosts F1 budget with Formula E exit
"We will focus resources on our aggressive goals for F1"
The French carmaker Renault has freed up more resources for its works F1 team.
The manufacturer announced that it is pulling out of the all-electric series Formula E to "focus resources on its aggressive goals for formula one".
The title-winning Formula E team will undergo a "smooth transition" to become Nissan, the Japanese carmaker which is over 40 per cent owned by Renault.
"After season 4 we will focus resources on our aggressive goals for formula one," confirmed Renault marketing chief Thierry Koskas.