In 2023, Renault sold a 24 per cent stake in the Alpine F1 team to an investment group, further reducing its exposure in a deal that valued the operation at around $900 million.

The Renault Formula One team will be renamed Alpine F1 from 2021, competing in French colours to showcase the carmaker's sportscar brand, new company CEO Luca de Meo announced on Sunday.

Since 2021. only Renault’s Formula 1 team, which competes under the Alpine moniker of its sports car arm, has used its power units. Alpine widely expected to join Mercedes’ engine roster in 2026.