On March 16, 2000, the Renault-Nissan Alliance, through the Renault brand, purchased Benetton Formula Limited for $120 million, marking its return to Formula One. The team acquired by Renault had its origins in 1981 as the Toleman Motorsport team, based in Witney, Oxfordshire, England. In 1986, the team was renamed Benetton Formula after its purchase in 1985 by the Benetton family. The team moved to a new base in Enstone in 1992/93. Renault continued to use the Benetton constructor name for the 2000 and 2001 seasons, with the Renault name returning in 2001 as an engine brand.
In 2002, Benetton was rebranded as Renault F1 and competed in the season with drivers Jarno Trulli and Jenson Button, who together scored 23 points. As a result of the rebranding, Renault received a French nationality license, replacing its previous Italian one.
Despite outscoring his teammate in 2002, Jenson Button was dropped by Renault for the 2003 season. His replacement was Spain's Fernando Alonso, who had impressed as a test driver the previous year. Alonso won the 2003 Hungarian Grand Prix, marking Renault's first Grand Prix victory since the 1983 Austrian Grand Prix. During this period, Renault introduced innovative designs, such as the RS23 engine, which featured a 111° configuration.
In 2004, the team contended for second place in the Constructors' Championship. Jarno Trulli won the Monaco Grand Prix, but his relationship with Renault deteriorated. Commentators often cite the French Grand Prix as a difficult moment for the team. Renault replaced Trulli with 1997 World Champion Jacques Villeneuve for the final three races.
Giancarlo Fisichella replaced Trulli for the 2005 season. He won the opening race of the season, the Australian Grand Prix. Fernando Alonso then won the next three races, establishing a lead in the Drivers' World Championship and for Renault in the Constructors' Championship. Alonso became the youngest ever driver to win the Drivers' title. This achievement was followed by a win in China, which secured the Constructors' World Championship for Renault.
Fernando Alonso and Giancarlo Fisichella were retained for the 2006 season. Alonso won the opening Bahrain Grand Prix and the Australian Grand Prix, and finished second in Malaysia. Alonso then took two more second places, followed by wins at his home Grand Prix in Spain and at the Monaco Grand Prix.
The team celebrated its 200th Grand Prix at Silverstone, which Alonso won. On July 21, 2006, the FIA banned the use of mass damper systems, which were developed and first used by Renault. Renault won the Constructors' Championship in 2006. On October 16, 2006, Renault announced that the Dutch banking giant ING would replace Mild Seven as title sponsor for three years starting in 2007.
Renault confirmed Giancarlo Fisichella and Heikki Kovalainen as their race drivers for 2007. Renault engines were also supplied to the Red Bull Racing team for the 2007 season. Renault struggled in comparison to their previous seasons' form.
On November 8, 2007, the FIA accused Renault F1 of possessing McLaren F1 technical information. The FIA found Renault F1 in breach of regulations but did not penalize the team.
It was announced on December 10, 2007, that Fernando Alonso would rejoin Renault F1 for 2008.
During the 2009 season, the actions of Renault F1 during the 2008 season were investigated over alleged race-fixing. The issue centered on an incident during the 2008 Singapore Grand Prix. Following an FIA investigation, Renault was charged with conspiracy and race-fixing. Renault did not contest the charges, and Flavio Briatore and Pat Symonds left the team. The FIA banned Renault from Formula One, but suspended this sanction for two years. Briatore was banned from FIA events for life, while Symonds received a five-year ban.
In 2010, Renault sold a majority stake in the team to Genii Capital. Robert Kubica was signed as Alonso's replacement.
On November 5, 2010, it was reported that Renault was poised to scale back its involvement in 2011 and become only an engine supplier, with the team closing in on a tie-up with Lotus Cars. The deal was finalized in early December 2010, with the team to be renamed Lotus Renault GP for 2011. Renault continued to support the team by supplying engines. The team raced against another team that was using the Lotus name.
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