Mar.2 (GMM) Russia is set to sponsor the Renault formula one team in 2010, prime minister Vladimir Putin has announced.
Russian rookie Vitaly Petrov has been signed to race this year for the Enstone based team, which has been essentially taken over by the private equity firm Genii Capital.
But the team retains its identity and name, and French carmaker Renault's chief executive Carlos Ghosn met this week with Putin.
"We will sponsor this activity (the F1 team) as a first step, and do not rule out later increasing our financial participation in the project," the prime minister is quoted as saying in Moscow by the news agency EFE.
Putin said Renault's signing of the first Russian driver Petrov, 25, is a "great symbol of cooperation" between the French marque and Russia.
He said the branding of the Russian carmaker Lada will appear on Renault's 2010 car and team.
Renault bought a 25 per cent stake in Lada parent Avtovaz for $1 billion in 2008, and it is reported that Ghosn may now increase the French marque's involvement.
Written: Tue, 02 Mar 2010 09:08:43
[ Print View ][ E-Mail Article ]
- September 02, 2010Lotus-Renault stories continue
- August 31, 2010Renault hail f-duct system
- August 01, 2010Webber wins in style
- July 20, 2010Petrov to hold 2011 Renault talks
- April 08, 2010Renault tells Petrov to lose weight
- April 02, 2010Friday news briefs from Malaysia
- March 02, 2010Lada branding for Renault
- February 09, 2010Petrov seat in doubt?
- January 31, 2010Renault confirm Petrov
- January 31, 2010Petrov with Renault team at Valencia on Sunday
- (March 02, 2010)View all headlines from this date
