The Renault Formula One team will be renamed Alpine F1 from 2021, competing in French colors to showcase the automaker's sports-car brand, new company CEO Luca de Meo said.
Alpine has a strong motorsport pedigree, in rallying and endurance racing, but has not previously featured in Formula One as a constructor. The Renault name will remain on the car as the engine provider.
"Starting from next year we will be racing with the Alpine brand," De Meo told reporters on Sunday ahead of the Italian Grand Prix at Monza.
"The car will be representing the historical colors of French motoring with the blue and Tricolore," referring to the French flag.
Renault last week announced a new organizational structure focused on four divisions rather than geographical regions, with Renault F1 team principal Cyril Abiteboul overseeing Alpine. Mainstay brand Renault, budget brand Dacia and new mobility will be the other divisions.
The Renault Group revived the Alpine brand and its two-seater A110 model in 2017, updating a classic design that hit a peak in the 1960s and 70s.
Pricier models such as the Alpine – which starts at around 61,000 euros ($72,000) in France -- could help improve the group’s longer term profitability, with De Meo saying that Renault's 'center of gravity' had to be more upmarket from the small cars like the Clio that have dominated sales.
"We will use Formula One as a platform to market a brand that we want to develop," he said on Sunday.
"Even if Renault is a glorious brand, the fit within the Formula One world of Alpine can be even better," said De Meo. "I believe that Formula One should be a championship of constructors with brands that make people dream."
The automaker has committed to Formula One until at least 2025 after signing a new commercial agreement. Formula One is also introducing a $145 million budget cap next year.
The 2021 Alpine team will feature Spain's Fernando Alonso, returning to a team where he was a double world champion more than a decade ago, and Esteban Ocon of France.
"This change comes at a key moment in the trajectory of the team and the sport," Abiteboul said in a statement. "The implementation of the budget cap will put an end to the expense race and will allow the signatory teams to be measured for their sporting value. Alpine has its place in Formula One and can challenge for victory."