Oct.13 (GMM) Renault CEO Francois Provost has admitted Alpine’s Formula 1 program is currently losing money, but insists the manufacturer still has strong reasons to remain in the sport.
Provost made the comments at the Paris Motor Show, including during an exchange involving French president Emmanuel Macron and Pierre Gasly.
“We’re sticking with Alpine,” Provost said.
“Ok, we’re losing money, it’s difficult, but you have to have ambition.”
He said the commercial return from Formula 1 depends heavily on Alpine becoming a regular frontrunner.
“For these investments to be fully recouped, our cars need to be in the top three or four when they are shown on Formula 1 TV broadcasts,” Provost told BFM TV.
“Only then will we see the real effect of this.”
Provost nevertheless stressed the value of Alpine remaining Formula 1’s sole French manufacturer brand, particularly with Gasly in the cockpit.
“It’s the number one sport in the world, across all categories, and there’s only one French brand, which is us, plus we have a French driver,” he said.
“That’s why we’re continuing this program and why we have to set truly ambitious goals.”