After losing top sponsor ING, the Renault Formula One team have just announced a deal with a major Russian auto marque, Lada, a move that has been strongly speculated since the signing of Russian racer Vitaly Petrov as he makes history for the country by becoming the first ever Russian driver in Formula One.

As such Lada branding will appear on the young drivers race overalls as well as on the chassis of the Renault F1 Team R30 race cars during the 2010 season.

“We are proud to announce this new agreement, which marks another important step for the Renault F1 Team and Formula 1 in Russia,” commented Renault F1 Team Chairman Gerard Lopez. “Through Mangrove Capital 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 and, as such, it is an honour 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. We look forward to an exciting and successful season together.”