Renault has to cut 2 billion euros: Will the F1 team get into trouble?

21-05-2020 12:31 | Updated: 21-05-2020 12:33
by Editorial Team
F1 News
Renault has to cut 2 billion euros: Will the F1 team get into trouble?

Renault has a choice to make for the next seasonn now that Daniel Ricciardo has already announced that he will leave for McLaren, but that doesn't seem to be the main concern for Renault, which reportedly has to save two billion euros.

The coronavirus affects everyone, including the automotive industry. According to the French press agency Agence France-Presse, Renault has to. Reportedly, the car manufacturer would have to cut two billion euros and this could mainly be done by closing factories and producing fewer models.

Chaos within Renault

It's not the first internal rumble within Renault, as the Renault-Nissan combination has been in heavy weather since former top rider Carlos Ghosn was arrested. In 2019 the company already recorded its first loss in ten years, losing around 141 million euros.

The AFP press release doesn't mention anything about the F1 team, but it does indicate that Renault is messing around internally. With Ricciardo's departure, the F1 team lost its intended team leader, and the millions invested in Formula 1 will still be scrutinised in this time of crisis.

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