Spanish Formula 1 driver Carlos Sainz is set to join Renault in 2018 on a loan from Toro Rosso, both sides announced on Friday.
After racking up 100 points in two-and-a-half seasons with Toro Rosso, owned by Red Bull, Sainz is set to team up with Nico Hulkenberg, putting an end to Jolyon Palmer's two-year spell with the French team, reports Efe.
"It is positive news for us to be able to confirm Carlos for 2018," managing director of Renault Sport Racing Cyril Abiteboul said.
"We feel that Nico and Carlos will complement each other on and off track and the combination should help us push forwards on the grid," he added.
"I would like to thank (Red Bull motorsport consultant) Helmut Marko for loaning Carlos to us for this period. We must thank Jolyon for his ongoing hard work with the team and his efforts over the past two seasons. He is a dedicated driver and we wish him the best in the next steps of his career," he continued.
Carlo Sainz, son of the two-time rally world champion who has the same name, made his F1 debut in 2015 when he raced for Toro Rosso at the Australian GP.
"This is very good development for both Carlos and Renault Sport Formula One Team and will also allow us to bring a new talent into Formula One," Marko said.
The 23-year-old driver said he was delighted with the move, thanking his new team for their trust.
"I'm very happy to be joining Renault Sport Formula One Team. To be a Formula 1 driver for a manufacturer team is an honour and I hope to reward Renault's faith in me with my very best performances on track," Sainz said.
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