While most of the new car launches this year have been low-key affairs, Renault pushed the boat out on Sunday, inviting the biggest contingent of guests and press to watch the unveiling of their new car. The presentation took place in the Renault Techno Centre, reputedly the biggest building in Europe, which is home to 12,000 staff.

The French company had a good excuse for a big bash as, in theory this was the birth of a new team - Renault F1. In truth, it is simply a name change for what used to be Benetton, although the might of the French car company will have a far greater involvement than when it was just an engine supplier.

For Renault, this is a return to F1 under its own name, having run its own team from 1977 to 1985. They just missed out on winning the Drivers' World Championship with Alain Prost in 1983 and as team CEO Patrick Faure explained, they are back to deal with "this unfinished business." Faure went on to say that for this year, he hoped the team would get as close as possible to the current top three teams and his personal aim was for Renault to finish fourth in the championship.

As usual, the plain speaking team boss Flavio Briatore put their chances for the coming season in perspective: "We have more chance of having lunch on the moon than winning races this year." Drivers Jenson Button and former Jordan man Jarno Trulli, start testing in Spain this week.