No F1 turbo engine price drop for 2014 says Renault

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)

Carlos Ghosn

Renault will look to reduce the price of its new F1 V6 turbo engines over time, the French carmaker’s president Carlos Ghosn said.

Reports have indicated that Renault’s new engine for 2014 is millions more expensive than any of its rival Formula 1 suppliers, causing Williams to jump ship to Mercedes.

It is also rumoured that, while Caterham looks set to stay with Renault, Lotus is in talks with Ferrari.

Already signed up with Renault for 2014 are Red Bull’s two teams, including Toro Rosso.

“We will not be surprised if the third one will come soon,” said Ghosn. “We may have more but we don’t need more.

“There is some concern about the cost of the engine, I understand it, but our commitment is to work to reduce these costs,” Ghosn said in Monaco at the weekend.

He insisted, however, that the initial cost of the engines to customers – believed to be over EUR 20 million per season – will not be reduced.

“We are not going to drop the price for anybody for 2014,” said Ghosn.

“But our commitment is every year we will be working hard to make this engine more efficient, to reduce the costs and then try to pass part of the cost reduction to the users.”