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Renault CEO: 'F1 is seen as quite an expensive and perhaps unnecessary hobby'

Renault didn't have an easy time in Formula 1. Sporting performances were lacking and also financially the French carmaker was in a bad way. Participation in Formula 1 was in the balance. Quitting Formula 1 Renault general manager Luca de Meo had to work hard to keep Renault in Formula 1. "Many people asked me to quit Formula 1 because Renault's financial situation is very complicated," De Meo told The French company led a record loss in the first half of 2020 and as several factories had to be closed, some 15,000 jobs were lost. For many people it was therefore difficult to understand that the Formula 1 team did continue to exist."Formula 1 has become...
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