Renault sells former Alpine F1 engine unit to Dumarey, preserving 150 jobs

Oct 22 (Reuters) - Renault Group has agreed to sell Alpine Racing SAS, the Formula One engine operation at its historic Viry-Châtillon site near Paris, to Belgian powertrain specialist Dumarey Group, preserving 150 jobs after the French carmaker decided in 2024 to end its works F1 engine programme.

Financial terms were not disclosed. 

• Following completion, Alpine Racing SAS will operate under the Dumarey brand, ownership and management.

• The companies said the deal could create opportunities to supply the site's Formula One engine expertise to racing teams in the future.

• "Our ambition is to preserve and further develop this exceptional engineering expertise while creating new opportunities for growth," Dumarey Chairman and founder Guido Dumarey said in a statement.

(Reporting by Zakarya Meliani; Editing by Matt Scuffham)