Renault unveiled its F1 team’s new car in Paris today, even as also officially confirming that Kevin Magnussen will partner Jolyon Palmer in 2016.
Speaking at the launch of Renault’s 2016 car, Renault CEO Carlos Ghosn believes Renault has the talent to win again.
“We know when the team wins it is the car and when the team loses it is engine,” said Ghosn.
“That is one of the reasons why we say in order to get the best out of F1 we have to be a full team.
“If you are only an engine provider you make a lot of investment. We are working a lot on the engine. We are watching carefully the development of this engine, there are a lot of things prepared for this season.
“We recognise the fact we are starting with a handicap compared to the winner. We think we have the talent and willingness and experience in order to close the gap.
“It may take some time, but we will close the gap. We are not here to participate, we are here to compete and to win.
“It is not going to happen in 2016. Let’s not think of a miracle.”
Renault Sport Racing president Jerome Stoll implied the livery could change before the race of the season in Australia on 20 March.