Renault stays in F1 with Genii Capital

Renault has therefore decided to remain in Formula 1. After several weeks of procrastination and rumors about the name of the buyer of the stable, it is finally Genii Capital, the company of Gérard Lopez, which becomes partner of the Renault F1 Team. Renault has decided to sell part of the chassis entity of?enstone while maintaining control of the engine activity of Viry-Châtillon. Renault thus indicates that it “ should transfer a large part of Renault F1 Team to Genii Capital and the two partners will jointly manage it. »

« The partnership with Genii Capital should make it possible to improve the profitability of Renault's investments. By selling a stake in the Enstone site in the United Kingdom to Genii Capital, Renault can now consider a lasting and less costly participation in the championship. », Indicates the manufacturer.

For his part, Bernard Rey, the president of Renault F1 Team, welcomes the arrival of the new partner. “ I am very pleased to welcome Genii Capital as a new strategic partner and I am sure that its enthusiasm and commercial skills will spark a new dynamic for the team, staff and our partners. We all look forward to competing at the highest level in Formula 1 once again.”

Renault, which has decided to choose the path to ?zero emissions? for the future with the arrival in 2011 of several electric models, also expects a lot from the governing bodies in this direction. “ Today?s announcement also confirms Renault?s commitment and confidence in the bodies administering sporting events to improve the ecological development of Formula 1. », continues Bernard Rey before concluding: “ Renault will be able to entertain its fans, while encouraging a more sober and safer championship. We will show Renault’s skills in designing reliable, high-performance and fuel-efficient cars.”