Its emphasis on technical innovation has also allowed it participate successfully in the demanding Formula 1 Grand Prix circuit where the Renault team is a formidable force having won two constructors' and drivers' World Championships in 2005 and 2006.

After the Second World War, Renault became a public company. In the years immediately following its nationalisation Renault experienced something of a resurgence, led by the development of the rear-engined 4CV model, which was launched in 1946 and remained in production until 1961. Other iconic models followed like the Renault5 which was launched in 1972. and was another instant success, particularly in the wake of the 1973 fuel crisis. The 5 remained in production until 1984 when it was replaced by the Super5.

Between 1981 and 1995 however, Renault was losing money and went through a period of restructuring and slimming down its operation. It was eventually decided that the company's state-owned status was detrimental to its growth, and Renault was privatised in 1996. This new freedom allowed the company to venture once again into Eastern Europe and South America including a new factory in Brazil and upgrades for the infrastructure in Argentina and Turkey.

In 1999, Renault formed an alliance with Nissan that was the first of its kind involving a Japanese and a French company, each with its own distinct corporate culture and brand identity. Today they work together on projects using joint platforms and engines yet still retaining their distinctive individual national styles.