29/05/2020
NEWS STORY
As Renault announced a major restructuring that will see at least 15,000 jobs lost, as part of its £1.8bn cost-cutting plan, the company's interim Chief Executive, Coltilde Delbos has said the company is to remain in Formula One.
"We have to change our mind-set," said Delbos this morning in reference to the car manufacturing side of the French giant. "We're not looking to be on top of the world, what we want is a sustainable and profitable company."
A day after it was announced that Nissan is closing its Barcelona factory and moving production to its Sunderland facility, confirming that the company is to review each of its regions in order to decide where cuts are needed, she said: "This will help us come back to our ideal size."
Asked about the F1 programme, she responded: "We have said publicly, and we confirm that we remain committed to Formula 1.
"The new regulations, the new cap in term of investments, is good because we had less investment than some of our competitors who are spending a lot of money.
"So, we are here, and we stay in Formula One."