Renault team principal Cyril Abiteboul has answered speculation that the pandemic and resulting financial difficulties could force the French manufacturer out of Formula 1.
Renault have hopped on and off the Formula 1 bandwagon as a factory team since first entering as a constructor in 1977, but the manufacturer has maintained a presence as an engine supplier in most years.
In 2021, Renault will be the only team running their power units - McLaren making the switch back to Mercedes - and there have been fresh doubts over the manufacturer's desire to remain a part of Formula 1.
"We've been in Formula 1 since the '70s," Abiteboul told Autosport's #thinkingforward podcast series.
"We've been loyal to Formula 1 and clearly as we look forward I think it's important to stay true to your roots, to where you're coming from, to your history, not just because of loyalty but also because it means something in the narrative that you can appeal to today's and tomorrow's customers.
"Motorsport has a unique value and contribution into it. That's why we believe in it, just like we believe in a number of marketing activities, except that it's sport, except that it's been a core of technology.
"That's racing, that's emotion also, and Renault stands for emotion.
"So all of that means a lot. And that's why we've been in this for decades, and we intend to do so for very long."
With any potential decision over the future of Renault likely to be made on a financial basis, the lowering of the 2021 budget cap from $175 million to $145m, pleased Abiteboul.
The team principal added the budget cap is, "very close to the level at which we've been operating. It's a much better business model in my opinion.
"If the condition was good enough for a number of manufacturers to join the sport in the past, they will be even better tomorrow.
"We've been able to push for containing the crazy development race on the engine, and it's really insane what we've been spending on the engine, and finally that's going to change."
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