Renault denies it will 'give up' on F1

Jun.23 (GMM) Renault has denied it is moving towards F1's paddock turnstile.

Amid talk of a split with Red Bull and a return to full works team status, the big rumour after Austria is that Renault is in fact close to deciding to simply quit formula one.

That is because the development or 'token' rules are gradually tightening, making it more likely Renault's deficit with its V6 'power unit' will be locked in for the long term.

But Renault's operations director Remi Taffin insists: "I do not agree with that. We will not give up."

In fact, Taffin said Renault is now on top of its biggest early-season problems, insisting that "reliability and driveability should no longer be a problem".

He said the rest of the season will be spent improving the engines for 2015 but "especially for 2016".

And Taffin said Renault remains contractually bound to Red Bull for 2016.

"Our relationship with Red Bull is good. Therefore I believe that we will continue to supply this team," he added.