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"We confirm that we intend to stay in Formula
One," she told a conference call.
"The new regulations, new cap in term of investments, because we
had less investment than some of our competitors who are
spending a lot of money, so F1, we are here, and we stay in
Formula One."
Renault's F1 future had been uncertain given the financial
pressures on the French car giant and a slump in demand due to
the COVID-19 pandemic.
It had said nothing would be "taboo" as it reviewed its
business, with the sport's commercial 'Concorde Agreement'
expiring at the end of the year. Renault finished fifth overall
last season.
Formula One has moved to reduce costs, with a $145 million
budget cap due to come in next season.
Some of the top teams are spending significantly more than that,
although they also get a bigger share of the revenues and
attract more sponsorship.
A major package of technical and sporting rule changes is due in
2022 which the sport hopes will narrow the gap between the top
teams and the rest and make racing more sustainable.
Renault, who won world championships with Spaniard Fernando
Alonso in 2005 and 2006, will have a vacancy in 2021 when
Australian Daniel Ricciardo leaves for McLaren and Friday's
announcement makes the seat more desirable.
Four-times world champion Sebastian Vettel is one name in the
frame after Ferrari announced the German would be leaving at the
end of 2020.
Another option could be the return of Alonso, who left McLaren
at the end of 2018 but is keen on a comeback.
(Reporting by Gilles Guillaume, writing by Alan Baldwin, editing
by Jason Neely and Christian Radnedge)
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