AFP reports that Renault SA has said it expects a long-term commitment to Formula 1 racing to boost its brand awareness around the world – notably in the Middle East, China and Asia as whole.
Go deeper with GlobalData
Renault F1 Team chairman Patrick Faure told AFP that Renault’s US$120 million purchase of the Benetton team in 2000 was “not done on a whim but because it is at the heart of the company strategy”.
In 2002, Renault decided to return to Formula 1 under its own colours with the R202 car.
