Renault CEO: "We are looking at sustainability in F1, but we make a lot ourselves"

20-09-2020 12:41 | Updated: 20-09-2020 20:48
by GPblog.com
F1 News
Renault CEO: We are looking at sustainability in F1, but we make a lot ourselves

In 2021, Renault will have a very strong line-up. With the young Esteban Ocon and the experienced Fernando Alonso, the French team wants to move closer to the top teams. With the addition of the budget cap, Renault will take big steps to challenge for the podium. The CEO of Renault, Luca de Meo, expects Renault to improve a lot.

"The budget cap has two advantages, the first is that it limits the budget and you cannot spend any more. The other advantage is that the competition will be closer together," explained De Meo at AS.com. However, he does not expect the F1 mission to be profitable at the same time.

F1 is not profitable

"I don't think anyone will invest in F1 now to make a profit, because there are plenty of other things you can invest in, where you do make a profit. But we are not really looking at a very profitable business in F1," explained the CEO of the French car manufacturer. 

Because F1 is still far from profitable, Renault has to look for opportunities to save money in F1. "We are looking at ways to save things. But we are a manufacturer that makes our own chassis and has to make our own engine. That's Cyril Abiteboul's job, that's what it's all about."

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