Belgian industrialist Guido Dumarey has agreed to acquire Renault’s historic Formula 1 engine operation in Viry-Châtillon, near Paris. He dreams of returning to F1 as an independent engine supplier by 2029. But after two of his French factories faced closure this year, can he succeed where Renault itself gave up?

Renault Group and Dumarey Group announced on Thursday that they had signed an agreement to transfer Alpine Racing SAS, the former Renault F1 engine division, to the Belgian entrepreneur. The deal includes the site’s technical facilities, engineering expertise, and approximately 150 remaining employees. The price was not disclosed.

The acquisition still requires employee consultation and regulatory approval. It does not include the Alpine F1 racing team, based in Enstone, Britain, which remains under Renault’s control.

Twelve F1 championship titles

Viry-Châtillon has an illustrious history. Renault engines developed there powered teams including Williams, Benetton, Red Bull, and Renault itself to twelve constructors’ world championships.

However, after years of disappointing results and mounting development costs, Renault decided to abandon its own engine program after 2025. Alpine switched to Mercedes power units for the 2026 season.

Plans to transform Viry into an advanced technology center for Alpine road cars also failed to materialize, leaving the site’s future uncertain.

For Renault, the disposal marks another step away from costly motorsport engineering, allowing the French manufacturer to concentrate resources on its core automotive activities.

A Belgian engine in 2029?

For Dumarey, the acquisition represents a long-standing personal ambition. Speaking to Belgian business newspaper De Tijd, he said supplying Formula 1 engines had always been one of his dreams.

He now wants to develop an engine capable of powering an F1 team by 2029, combining Viry’s motorsport expertise with his group’s engineering operations in Turin and Pisa, acquired from General Motors and Vitesco Technologies.

The Belgian-owned group employs approximately 2,500 people worldwide and generates around €750 million in annual revenue. Its activities range from conventional and hydrogen combustion engines to electrification, electronics, and advanced powertrain testing.

Yet supplying Formula 1 engines is an entirely different challenge. The current generation of highly sophisticated hybrid V6 engines demands enormous development budgets, while most teams already have long-term supplier arrangements.

A possible return to less complex V8 engines around 2031 could offer Dumarey a more realistic opportunity. However, those future technical regulations have not been finalized.

Industrial rescues with mixed results

Dumarey has built his industrial empire by acquiring factories and engineering divisions that multinational manufacturers no longer considered strategic.

Among his successes was the former ZF transmission business in Sint-Truiden, transformed into Punch Powertrain before he sold his interests. His earlier acquisition of digital printing specialist Xeikon also demonstrated his ability to revive troubled businesses.

But not every rescue has succeeded. In January 2026, Dumarey announced the closure of his former General Motors transmission factory in Strasbourg, affecting its 320 remaining workers. Production had collapsed after the loss of a major customer.

Two months later, the group announced the closure of its Bouthéon transmission factory, which it had acquired from ZF in 2023, putting another 266 jobs at risk. Declining orders and unsuccessful electrification and hydrogen projects contributed to its difficulties.

Together, the two closures threaten nearly 600 French industrial jobs, underlining the risks of taking over operations abandoned by major manufacturers.

More than an F1 dream

Dumarey nevertheless sees opportunities beyond motorsport. Combining Viry’s high-performance engine development, simulation, and testing expertise with his existing engineering businesses could attract customers in automotive, aerospace, and industrial propulsion.

“The Viry-Châtillon site has built a strong reputation for advanced engineering and innovation,” Dumarey said in the joint announcement, emphasizing his ambition to preserve its expertise and create new growth opportunities.

The immediate challenge will be turning that expertise into a profitable business. A Formula 1 comeback would bring international prestige, but neither a customer team nor a development budget has yet been announced.

For Renault, the sale closes a historic chapter in French motorsport. For Dumarey, it could become his most prestigious industrial turnaround yet. Or another expensive bet on technology that a larger manufacturer has decided to abandon?