Thursday, July 25, 2024

Media: Hyundai wants to buy Renault out of Formula 1

Right now, Cyril Abiteboul, who was formerly head of Renault in Formula 1, is at the head of Hyundai's rally program. It could be the South Koreans' entry into Formula 1, media write.

There is usually no roe without it burning at least a little. And that is the case in the Alpine garage, where Esteban Ocon has received a notice of dismissal.

Officially, however, it is stated that the partners go their separate ways by mutual agreement. But there may be more to come than just a choir change.

Because even if Renault group director Luca de Meo emphasizes to Motorsport that he is not interested in pulling Alpine out of Formula 1, there may still be a too tempting offer from an unexpected side.

– It's not my style. We are not even selling part of the team. We don't need the money. I have had offers from all sides, which are then discussed in the media. But we are not interested. That would be idiotic and I won't do it, says de Meo.

READ ALSO: Almost nobody in Denmark wants these new cars

Conversely, de Meo did not say no when an investor group with Hollywood star Ryan Reynolds as figurehead gave one and a half billion for 24 percent of the team in June.

But now a bid for it all may be on the way from Cyril Abiteboul, who was formerly head of Renault in Formula 1, and the Frenchman's current employer, Hyundai Motorsport.

Formula 1 journalist Joe Saward thinks so. That Hyundai has been – and perhaps still is – interested in Formula 1 is not new. The rumor has already surfaced several times between 2010 and 2013, when the South Korean grand prix was still part of the calendar.

However, Motorsportweek writes that Hyundai then resigned due to a case of bribery. But the interest should not have evaporated completely.

Read more exciting news from and about the world of cars right here!

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