Renault: The Ghosn affair has no impact on the F1 project 'for the moment'

Suspected of financial embezzlement in Japan, the 64-year-old captain of industry was arrested in the Japanese archipelago on Monday. Ghosn was then placed in police custody until November 30 and must answer, among other things, to charges of concealing income from Japanese tax authorities. 

The Franco-Lebanese-Brazilian industrialist, cornerstone of the Alliance Renault-Nissan, to which Mitsubishi Motors was attached in 2016, has already been removed from his position as president of Nissan following an extraordinary meeting of the brand's board of directors. 

As for his role at Renault, the French manufacturer has promoted Marid Thierry Bolloré, its Number 2 and designated successor, to the rank of corporate officer with power of representation on the Alliance board. “ Mr. Ghosn, temporarily prevented, remains chairman and CEO », Specified the brand in a press release. 

Ghosn had validated the return of Renault in F1 as a manufacturer at the end of 2015 by buying the Lotus team, but Abiteboul recalled from Abu Dhabi, where the last Grand Prix of the season is being contested, that “ it is not the choice of one man. The decision was debated at length and back in the executive committees as well as the board of directors. It’s a society’s choice. 

We have been involved in F1 for over 40 years. We are on a long-term project that extends over time: three years to build the team, then three more to compete with the best and hopefully win. There is clear continuity in operations with Thierry Bolloré, who knows F1 well, serving as a director on the board since 2016.

We have no information that would lead us to believe that there will be an impact on the F1 program, we do not see why there would be any consequences. For the moment, the watchword is continuity and the conclusion of the championship in the best possible position before starting phase 2 of our project ». 

Scandals involving car manufacturers have not failed to make the news in recent years, foremost among which is Volkswagen Dieselgate. The affair also pushed the German group to withdraw from the world championship ofEndurance, then that of rallies. 

Asked whether Ghosn's fall would have any consequences for Renault in F1, Abiteboul added: “ I do not want to sound too optimistic because the developments of recent days demonstrate a situation that must be treated seriously. The message I want to convey is that there is continuity for all the operations of the Renault group, and I also include Nissan and Mitsubishi. The F1 program is part of all this. It is a very well-known budget and activity, we are in the spotlight with precise expectations in terms of return on investments.

The reasons why we returned to F1 at the end of 2015 – media exposure, brand recognition, development, and technology, etc. – are still valid and will remain so regardless of developments in the case on which I do not want to speculate. It’s up to us to deliver convincing results at the best cost. There is no indication that Thierry Bolloré does not support the F1 program ». 

Renault is currently 4th in the Manufacturers' standings, 24 points ahead Haas before the 2018 final. When Losange returned as a manufacturer team, Ghosn had set the following roadmap: podiums in 2018, victories in 2019, and titles in 2020. Given the gap with the three top teams in the field, Renault now has 2021 and the many changes announced in its sights.