Abiteboul believes in F1 project: ''This will be good for us too''

Renault is in heavy weather. According to several sources, the French car manufacturer has to cut back considerably and it cannot be ruled out that the Formula 1 team will suffer as a result. However, Cyril Abiteboul doesn't think so.

Formula 1 has done a lot of work in recent weeks to improve the future of the sport and the teams. The budget cap has been lowered and all kinds of rules have been put in place to make the sport more competitive from 2021, but also a lot healthier for the participating teams.

New rules

''It's a serious crisis and it's good to see everyone thinking about the future of the sport. The lower budget cap will also be good for us, because that is now very close to our spending. It is also a much better business model. Our voice has finally been heard in that respect and now we won't see endless battles for the most money'', says Abiteboul to Motorsport.com.

Still, the new rules don't immediately provide certainty at Renault. The brand itself will have to make savings and the Formula 1 project of millions will be scrutinised. Despite the fact that there is still no victory in the new Renault era, Abiteboul thinks it pays to stay in the sport.

History of Renault

"We've been in Formula 1 since the 70s and have always been very loyal to the sport. Motorsport is important to us in order to radiate our core values. They are actually marketing activities, but through sport and technology. Racing is also emotion and that's another thing Renault stands for''.

''You have to have a clear goal why a customer should be interested in your product and your DNA, history and legacy is essential. Formula 1 plays an important role in this'', concludes Abiteboul, who still has to look for a new driver before 2021 due to the departure of Daniel Ricciardo.