The French brand returns to the grid as a standalone manufacturer after a four-year sabbatical and it has just unveiled this season's fighter.
Its Formula 1 program car will include an in-house chassis as well as the French marque's existing R.E. 16 power unit.
Throughout 2016, Kevin Magnussen and Jolyon Palmer will race for Renault, with Esteban Ocon as the third and reserve driver.
Renault-Nissan Alliance partner Infiniti has also been confirmed as the primary partner for the Renault F1 squad, leaving Red Bull Racing without a title sponsor.
The debut of the new F1 car came as chairman and chief executive Carlos Ghosn announced two new pillars of the French carmaker's performance division.
Renault Sport will consist of Renault Sport Racing and Renault Sport Cars. The first of those will encompass all of the company's motorsport activities, including Formula One, Formula Renault 2.0 and the Renault Sport R.S.01 Trophy series.
Meanwhile, Renault Sport Cars will be behind the firm's high-performance road models, such as the the Megane RS and Clio RS, that are supposed to get a publicity and image boost by the brand's involvement in F1.