F1: Renault set to power four teams next season

PARIS - Renault is expected to power four Formula One teams next season with Red Bull's two confirmed and Caterham and Lotus set to renew soon, Renault Sport F1 director Jean-Michel Jalinier said on Thursday (Friday, PHL time).

The French manufacturer, which has helped Red Bull sweep up the last three constructors' titles, will supply the champions' sister team Toro Rosso next season when a new V6 unit replaces the current V8.

Williams, which uses Renault engines at present, is switching to Mercedes.

"We very likely will end up with four teams," Jean-Michel Jalinier told reporters at an event set up by the French carmakers' union.

"The discussions with Lotus and Caterham have progressed. It's almost done with them, so there's a high probability that we end up with four [teams] in 2014."

Caterham is committed to Renault although no formal agreement has been struck yet. The French manufacturer currently supplies Lotus, the former championship-winning Renault team.

Formula One is ditching the current 2.4 liter V8 engine at the end of this year for a new 1.6 liter V6 with turbocharger and energy recovery system.

Renault will unveil the engine they have developed with Red Bull at next week's Paris air show at Le Bourget, Jalinier said. The deals will be announced shortly afterwards, he added. - Reuters