By alley - Mar 19, 2015, 7:01 AM ET

Renault says it won't give up on F1

Renault has no intention of leaving Formula 1 as it continues to evaluate its strategy in the sport.

The French manufacturer's focus is currently on improving its engine for clients Red Bull and Toro Rosso, but it has said its longer-term ambitions may include expanding beyond being just an engine supplier. Earlier this week,

Toro Rosso emerged as the leading candidate to be taken over by the French manufacturer

should it decide on a return as a fully branded works effort.

While Renault is assessing several options in a bid to ensure it gets maximum benefit from F1, the French manufacturer says it will not consider quitting the sport.

When askedwhat the percentage chance was of Renault leaving the sport, managing director Cyril Abiteboul said: "Not a chance, I would like to make sure we can find a way forward.

"We are also looking at overall situation of the sport, it's not just assessment of the teams but also how the sport is doing from a business perspective, the TV figures. I don't want to be out of F1, because it's a great marketing platform for what we are aiming to do in countries such as China and India."

Red Bull team principal Christian Horner said in the wake of the Australian Grand Prix that Renault's 2015 engine project is in "

a bit of a mess

."

Originally on Autosport.com