According to Paris daily Le Figaro, French carmaker Renault is about to sell its remaining 25% stake in the Renault F1 Team to national carmaker Proton, and that the deal will be formalised this Wednesday, citing unidentified people close to the matter. Renault has already sold 75% of the team to Genii Capital Partners last year.
Proton’s wholly owned subsidiary Group Lotus will be the team’s sponsor, and will pour about 30 million euros ($41 million) annually over five years into the team, the report said, adding that the team’s new name may be Lotus-Renault as the French automaker will continue supplying engines. Renault engines will also power champions Red Bull Racing and Lotus Racing next season.
Rumours of a “Lotus-Renault” surfaced earlier this month. When questioned, Renault CEO Carlos Ghosn not only did not deny the rumour, but hinted strongly at the possibility of a name change for the F1 team. Click here to read what he said.
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AI-generated Summary ✨
Comments reveal skepticism about Proton's involvement in F1, with many viewing it as a PR stunt rather than a technical benefit, citing the high costs and limited tech transfer. There is concern over Proton’s financial capability and the strategic focus on leveraging Lotus and F1 for branding and market expansion. Some fans are optimistic, advocating for Malaysian drivers and team leadership, and suggesting collaborations with renowned F1 personalities like Mika Hakkinen and Kimi Raikkonen. Others feel Proton's F1 investment might be a misguided expense that distracts from improving core product quality. Overall, the sentiment is mixed, with many questioning whether this F1 initiative will genuinely benefit Proton or simply serve as a promotional gimmick, highlighting worries about financial sustainability and real technological gains.