Renault has reaffirmed that its engine formula for 2013 will even out the playing field in the auto industry. This was following suggestions that its existing 2.4 liter unit was not in the same league as that of Mercedes and Ferrari.
Officials at Renault have stated that there are technological innovations and that the competition is completely open.
The new formula is aimed at bringing car manufactures back into the F1 field, and the sources have said that they have been mindful that there are precise rules for the costs, the materials, the number of engines per season and the speed limit.
Renault has officially withdrawn from the position of being team owner of the Renault team, based in Enstone, but has affirmed that they will continue to supply engines for the coming three years.
During this period, the V8 engine formula will be transcended and the new four-cylinder turbos will debut in 2013.
Although the new formula was aimed at enticing car manufacturers back into the racing game, BMW will not be joining soon, and Volkswagen is not committed either.
Sources say that that Japanese have been expressing interest in the F1, and that Honda is seriously considering making a comeback.