Renault says there will be no decision on its future in Formula 1 until September at the earliest.
The French manufacturer is continuing to evaluate its long-term options beyond its current engine supply contract with Red Bull and Toro Rosso that expires at the end of next season.
Renault has three choices open to it: to continue as an engine supplier, to quit F1 altogether, or as is being strongly evaluated, to return as a constructor in its own right by taking over Lotus.
While Renault’s Formula 1 future remains in the spotlight, the firm’s managing director Cyril Abiteboul has made clear there will be no hasty actions.
“It’s no secret we are working a lot on lots of things, including trying to make our engine more competitive because frankly without a competitive engine there is no story whatsoever,” Abiteboul said.
“It’s also true we are looking into different options, but there is no immediate decision. It’s a long-term process because anything to be decided is a long-term decision, so we are not going to rush anything. We will not make further comments before September at the earliest. We are far from the conditions required to make the right decision.”
Abiteboul has also stated there is no deadline within Renault to make its decision.
“Any decision will be one for good and impacting on our strategy on the long term,” he added. “We prefer to wait a bit to ensure we make the right decision, we go in the right direction rather than rushing based on wrongful assumptions. Right now we have a contract in place with Red Bull and Toro Rosso we will be honouring until the end of 2016.
“They are two fantastic teams, very demanding, but we want to do a good job as quickly as possible for their satisfaction. So it gives us a bit of time to ensure we have the right program in place for beyond that point if the decision is made to do something different beyond what we are doing.
“So as I say there’s no rush, let’s see where things take us, but I would say also what we are working on in Renault is not just Formula 1. There are a lot of very exciting projects we are working on, and I’m looking forward to these. Clearly Renault has every intention to remain committed, and to remain a very big player in motorsport.”