Renault confirmed that they remain in Formula 1.

      We have repeatedly talked about the desire of the investment fund Otro Capital to sell its 24% stake in the Alpine team. The CEO of Renault, François Provost, supports this sale, as he claims that the collaboration with Otro Capital has not benefited the team.

      At the same time, Renault, as the main shareholder, has a veto right on any change of ownership of Alpine until September, and before that deadline, the French company hopes to find a buyer for Otro Capital's stake who can benefit the team.

      François Provost: "We manage the team. Otro has no rights, and they do not bring any benefits since they do not help us in our work. Renault bears full responsibility for the team, and the partnership with Otro has not been successful.

      I believe we are capable of assessing the situation together. They want to sell their shares and make a good profit. But they need our consent for the sale, and we will give it sooner or later. From an operational standpoint, this will have no impact, and that is the most important thing for me.

      There is no urgency regarding the sale, and when looking for a new partner, we will adhere to two principles. The first is that Renault will retain control over the team; we have no plans to sell our stake.

      The second principle is that if Otro sells the shares, I want to be sure that we will have a certain degree of cooperation with the new shareholder, a common goal, and common interests. Therefore, I am in no hurry."

      François Provost added that Renault does not plan to leave Formula 1, supports the transition to atmospheric engines in 2030 or 2031, but does not intend to design and produce its own power unit.

      "We want to stay in Formula 1," Provost continues. "The sale of Otro's shares will not change our strategy. The current task is to restore the team after the destabilization when the results were really poor.

      I have set the team a top priority task – to stabilize the situation and lay new solid foundations. This is our goal for this season.

      I support the transition to V8 engines, but not because this could be an opportunity for Renault to return as an engine manufacturer. This is not our strategy, although never say never. But I reiterate that my main priority is to restore results in the short term and create a solid foundation for forming new ambitions. This is the main priority, not returning to creating our own engine.

      I would like to maintain a share of the electric component in the new engines because our customers around the world want electrification, and Renault is a leader in electric vehicles and hybrids. Therefore, if we can maintain a share of the electric component in the power unit, that would be good, but overall, I support the direction of development that has been chosen in Formula 1 and by the FIA."

      In response to the question of whether it is important to keep the turbo in the new generation engines, François Provost said: "No, it is not important. It is important to continue the great journey of Formula 1 and always set new tasks, conduct new stages, and implement new ideas. If we can attract more than 100 million new fans each year, that would be a great achievement. That is our common goal."