Renault F1 team announces $50 million boost

Formula One champions Renault announced a $50 million programme of long-term technology investment on Monday after slipping behind their main rivals on the racetrack this season.

The team said in a statement that the programme, including a new computational fluid dynamics (CFD) facility to be built at their Enstone factory, had the full support of the French carmaker.

"This programme of technology investment in the team sends a strong signal about our commitment to a competitive future in Formula One," team boss Flavio Briatore said.

Technical director Bob Bell added that the new CFD centre would allow the team to develop new techniques and skills with applications far beyond Formula One.

"While other teams have invested in costly second wind tunnels, we believe that CFD is a technology of the future that will be integral to the design and development of more efficient vehicles," he said.

The team said the new CFD facility would provide them with 10 times their current capacity in that field.

It added that the construction work would meet stringent environmental targets, with the CFD centre built below ground level and powered by renewable energy.

Renault, winner of both Formula One titles for the past two seasons with now-departed Spaniard Fernando Alonso, have struggled this year and are currently fourth overall with seven races remaining.

Neither Italian Giancarlo Fisichella nor Finland's Heikki Kovalainen have finished on the podium this year and between them they have scored just 32 points from 10 races to McLaren's 138 and Ferrari's 111.

(Source: Reuters)