Renault boss: We’re definitely staying in F1 as engine supplier

Chief Executive of Nissan Motor Co., Carlos Ghosn, gestures in response to questions during a briefing in Beijing on October 29, 2009. Ghosn said Nissan's electric cars will be price competitive with comparable gasoline-fueled cars in three years. Nissan will begin to sell its electric vehicles in the second half of 2010, and is staking its future on full electric battery cars. AFP PHOTO/Frederic J. BROWN (Photo credit should read FREDERIC J. BROWN/AFP/Getty Images)Sep.28 (GMM) Carlos Ghosn, the chief executive of Renault, said he does not regret keeping the Paris-based carmaker in Formula One, and intends to stay involved as an engine supplier long term.

Renault no longer owns and runs its own team, but amid the manufacturer exodus of a few years ago, the marque chose to stay on the grid as an engine supplier.

“We are involved and we want to stay, definitely,” Ghosn said at the Paris motor show.

“We made the right decision around 2008-2009, when many others like Toyota, Honda and BMW left completely.

“We stayed,” he is quoted by the Russian website “We supply engines to a team [Red Bull] that has already won two titles and still leads this constructors’ championship.”

Renault Sport F1 also supplies customer engines to Lotus, Williams and Caterham, and is actively developing a V6 unit for the new rules due to come into effect in 2014.

“We will stay in formula one – we have a lot of obligations,” said Ghosn.

Meanwhile, Ghosn said he “understands” the French government’s decision to refuse financial support to grand prix projects proposed by Paul Ricard and Magny Cours.

“In the current situation it is necessary to use the budget for primary needs,” he said.

Subbed by AJN.