Jun.29 (GMM/Inautonews.com) Renault has still not ruled out quitting formula one altogether.

On a visit to the Formula E race in London at the weekend, the French carmaker’s CEO Carlos Ghosn said the only certainty is that Renault is fully committed to the all-electric series.

As for F1, it depends entirely on Renault’s “return on investment”, he said.

“We have commitments in formula one and we will honour them,” Ghosn is quoted in a French-language AFP news report.

He is referring to Red Bull and Toro Rosso, and Renault’s contracts to keep supplying them with the troubled ‘power unit’ into 2016.

But beyond that, the door – and the exit – is very much open.

“F1 is a very interesting discipline,” said Ghosn. “It is very famous, many people follow it, and when you develop engines, you have the privilege of being forgotten when you win and highlighted when you lose.”

It is rumoured Renault could therefore move to improve its image by buying a team, and Ghosn admitted: “If that makes sense, yes. We are not ruling out any option.”

He said simply staying an engine supplier is “less likely”.

And Ghosn said quitting altogether is a third option, and one that depends on F1 improving its “governance”.

He said F1 “must follow a more rational path, where those who invest money and make the show can get a fair return on those investments”.

“If it was up to us, the decision would already have been taken,” added Ghosn.