The series emerged from the consolidation of two earlier championships. The World Series by Nissan, itself descended from the Spanish Formula Renault Championship founded in 1991, had been running since 1998 with a Dallara chassis and Nissan power. In parallel, Renault started the Formula Renault V6 Eurocup in 2003 as a support series for European touring car events, using a Tatuus chassis and a Nissan-derived 3.5-litre V6 engine. When Renault reorganised its motorsport programs in 2005, both series were merged into the new Formula Renault 3.5 Series, retaining the Dallara chassis while upgrading the V6 engine to 425 PS.
The series operated as part of the World Series by Renault weekend format, typically supporting events across Spain, France, Portugal, Italy, and Brazil. Formula Renault 2.0 Eurocup and the Megane Trophy also ran as support categories, making the package one of the more complete motorsport weekends on the European calendar.
Through its lifespan, the series went through two distinct technical eras. From 2008 to 2011, teams ran the Dallara T08 chassis powered by a 3.5-litre V6 Nissan VQ35 unit producing 480 bhp with a rev limit of 8,500 rpm. Gearchange was via a six-speed semi-automatic paddle-shift gearbox supplied by Ricardo. Total dry weight stood at 600 kg.
From 2012, the series introduced the new Dallara T12 chassis, powered by a Zytek-developed 3.4-litre V8 engine producing 530 bhp at 9,250 rpm. The cars shed 15 kg compared to the previous generation while gaining 50 bhp, making for a significantly faster package. A Drag Reduction System, operating similarly to the one introduced in Formula One in 2011, was also incorporated. Total weight with this specification was 623 kg. The car measured 5,070 mm in length with a wheelbase of 3,125 mm and ran on Elf LMS 102 RON unleaded fuel.
The Formula Renault 3.5 Series established an unmatched record as a springboard to Formula One. The roll of champions alone reads as a who's who of modern grand prix racing.
Robert Kubica won the 2005 title before going on to race in Formula One for BMW Sauber, Renault, and Williams. Kevin Magnussen took the 2013 championship ahead of Stoffel Vandoorne, both of whom would reach Formula One. Carlos Sainz Jr. won the 2014 title on his way to a Formula One career spanning Toro Rosso, Renault, McLaren, and Ferrari. Pierre Gasly finished runner-up in 2014 before joining Toro Rosso and Red Bull Racing.
Champions in the predecessor World Series by Nissan era included Fernando Alonso, who won in 1999 before going on to claim two Formula One world championships with Renault. Heikki Kovalainen won the 2004 title before racing for Renault and McLaren in Formula One.
Beyond champions, the series attracted and developed drivers including Daniel Ricciardo, Jean-Eric Vergne, Jules Bianchi, Esteban Ocon, Sebastian Vettel, and Robin Frijns. Several drivers used the series not only as a route to Formula One but also to other major categories: Will Power competed in the series before winning multiple IndyCar titles, while Alex Palou finished tenth in the 2017 Formula V8 3.5 iteration before becoming a four-time IndyCar champion.
In July 2015, Renault Sport announced its withdrawal from the series, handing control to co-organiser RPM. The championship was renamed Formula V8 3.5 for 2016 and subsequently World Series Formula V8 3.5 in December 2016. The rebrand reflected a new engine formula but the series struggled to maintain grid sizes without Renault's backing and prestige. Pietro Fittipaldi won the 2017 title, later racing for Haas in Formula One, but in November 2017 it was announced that the series would not continue in 2018 due to insufficient entries.
During its decade of operation as the Formula Renault 3.5 Series, the championship produced arguably the strongest concentration of future Formula One talent of any junior formula in the 2000s and early 2010s. Its position below Formula One but above Formula Two in terms of competitiveness and car performance, combined with competitive racing and a high-profile race schedule, made it a genuinely prestigious destination for the most ambitious junior drivers. The series' closure in 2017 left a gap in the European single-seater ladder that was eventually filled by the revived FIA Formula 2 Championship.
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