Renault Completes the Takeover of Lotus F1 Team

Renault will also be taking part in the 2016 Formula One Championship as an independent team

Renault Formula One Car. (Photo Courtesy: Renault)

Renault recently declared that it will be entering the 2016 Formula One championship as an independent team, but the question surrounding the future of the Renault-Lotus partnership was left unanswered.

The French automaker has put to rest all doubts with the completion of the expected takeover of the Lotus F1 Team that employs almost 500 employees at their factory in central England.

Renault, an engine supplier to former world champions Red Bull, has previously owned Lotus as well. It was sold by Renault to Luxembourg-based Genii Capital after a Singapore Grand Prix race-fixing scandal that rocked the sport in 2009.

Renault has Venezuelan Pastor Maldonado and Britain’s Jolyon Palmer as drivers signed for 2016.

Renault won the F1 Constructor’s Championship in 2005. (Photo: Reuters)

Renault has been involved in Formula 1 for almost 40 years. In 1977, the company was the first to introduce turbocharging of the engine, a technique that soon became the norm in the sport. Renault has since taken part in more than 600 Grand Prix, claiming 168 race wins, 12 constructors’ titles and 11 drivers’ crowns.

Formula 1 attracts 450 million television viewers annually and is a platform for car companies to showcase their engineering and racing capabilities to the world.

Check out the 2016 Formula 1 championship calendar here.

(With inputs from agencies.)