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Lada to sponsor Renault team UPDATE Photo added showing the Renault and their new logo for Lada.

Lada logo now on Renault
03/04/10 Renault has confirmed a sponsorship agreement with Russian car manufacturer Lada.

The deal, that will see branding feature on the team's cars, was signed earlier this week and publicly endorsed by Russia president Vladimir Putin.

With the country still hoping to host a Formula One grand prix in the future, this is a further sign of their increasing involvement in motorsport.

Lada has recently featured in the World Touring Car Championship, while Vitaly Petrov will become the first Russian to compete in F1 this season with Renault.

"We are proud to announce this new agreement, which marks another important step for the Renault F1 Team and Formula One in Russia," said team chairman Gerard Lopez.

"Through Mangrove Capital (his investment company) we have been actively investing in Russia over the last years.

"We know the country well, we have a high degree of appreciation for it.

"As such, it is an honor for our F1 team to spearhead Russia's entry into the sport and to carry the Lada brand at the highest level of world motorsport."

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