Renault is a manufacturer that, like McLaren, has Formula 1 deeply woven into its DNA. It introduced the concept of turbo-charging to modern F1 back in 1977, has won grands prix with and without turbo power, and has been a consistent pioneer and developer of new technologies in Formula 1.

And while a Renault-powered McLaren is a new and exciting concept in Formula 1, what’s most important is that this partnership gives us the equal opportunity to compete alongside the other Renault-powered teams.

At McLaren, we have the motivation, the desire and the resource to be a competitive force in 2018; now Renault power gives us the ability to take a significant step further up the grid. Today’s announcement starts a fresh chapter in the McLaren story – and we can’t wait to get started.

Honda is a great company which, like McLaren, is in Formula 1 to win. Although our partnership has not produced the desired success, that does not diminish the great history our two companies have enjoyed together, nor our continued efforts to achieve success in Formula 1. At this point in time, it is in the best interests of both companies that we pursue our racing ambitions separately.

Today’s announcement gives us the stability we need to move ahead with our chassis and technical programme for 2018 without any further hesitation.

As an organisation, McLaren has always worked extremely hard to form lasting partnerships with its technical suppliers. We’re convinced that we can bring real value to Renault Sport Racing as we work alongside it to develop this current power unit into a regular race winner.

There has never been any doubt over Honda’s commitment and energy to the mission of success in Formula 1. They are proven winners and innovators. For a combination of reasons our partnership has not flourished as any of us would have wished. It is certainly not for the want of effort on the part of either Honda or McLaren, but the time has come to move ahead in different directions. As fellow racers, we hope to see the great name of Honda get back to the top – our sport is better for their involvement. I know this view is shared by everyone in the sport.

This is a strategic decision for Renault Sport Racing. It is the first time that Renault will work with McLaren and we are proud to have reached an agreement with an organisation that has such a rich Formula 1 history. This alliance is not only technical and sporting, but also comes with marketing and communication benefits. We know that McLaren will push us hard on track and this competition will be to the benefit of all.

We are pleased to confirm a new partnership for Renault Sport Racing and McLaren Racing and excited to embark on this new relationship of these two historic brands in Formula 1 cooperating together for the first time. This agreement is perfectly in line with our mid-term strategy and with our objective to be in a winning position as a team in 2020. We are looking forward to seeing the Renault brand on next year’s McLaren and racing our new partners on track. McLaren is an inspirational team with two talented drivers which should not only support our engine development efforts but also act as a reference and an example in the ongoing construction of our chassis operations. This is an exciting new beginning with a championship-winning team that is hungry to return to glory.

It is unfortunate that we must part ways with McLaren before fulfilling our ambitions, however, we made the decision with a belief that this is the best course of action for each other's future. On behalf of Honda, I would like to express my sincere gratitude to fans who have been very supportive of the team as well as the drivers, team members and everyone involved who shared with us in the joys and disappointments since we began preparing for our return to F1 in 2015. Honda will continue the fight together with McLaren all the way to the end of the 2017 season, and then continue its F1 racing activities in 2018 and beyond.