Drivers Nico Hulkenberg and Carlos Sainz are hoping for further progress this year, though they’re expected to face tough competition from Renault’s customer teams Red Bull and McLaren.
The French manufacture are not targeting a title challenge until 2020 but want to start scoring podiums again from this season.
“We are a team on the rise,” declared Renault Sport president Jerome Stoll.
“We have two very talented drivers who are hungry for results. Enstone is regenerated and the workforce has already increased by more than 35%. I am convinced year three will take us one step closer to the long-term aim: winning races and challenging for championships.”
Renault F1 managing director Cyril Abiteboul wants to continue that upward trajectory this term.
“Last year was successful in many ways,” he said.
“It was the second year in our rebuilding and a further step towards our long-term plans and aims. 2016 was all about recruiting, investing, bringing in new sponsors, new talents and building our brand.
“It was a quantified progression towards what we want to become and challenging the top teams. “Our headline target [for 2018] is to show continued progression through results.
“We want to be able to showcase our progression in every regard; power unit, chassis, operations, drivers. Everything must improve, and we must continue to grow.
“We want to demonstrate this in many different ways, from the teams we will be directly racing against, to the gap to the leaders, including also our fan base and the respect that our team will inspire in our way we behave on and off track.”