RENAULTย  is focused on continuing its steady upward path in Formula 1 with its just-launched E-Tech 19, wearing new livery.

โ€œWe want to be real contenders,โ€ Renault Sport president Jerome Stoll said at the teamโ€™s Enstone factory.

โ€œWe are passionate about motorsport.

โ€œOur history in F1 has continued unbroken for more than 40 years. But this passion has to be tempered with a healthy dose of reality.

โ€œF1 makes sense for Renault; it is a laboratory for our future road-going technology and a very exciting time to be part of F1.โ€

The French team last year secured its best constructorsโ€™ finish since returning to the sport in 2016, ending up behind Mercedes, Ferrari and Red Bull, and leading the midfield in fourth.

โ€œWe want to fight for more. We want to reduce the gap to the frontrunners and target engine excellence,โ€ team boss Cyril Abiteboul added.

The signing of seven-time GP-winner Daniel Ricciardo, the who chose not to extend his contract at Red Bull, suggests the Renault team is making great strides.

โ€œI want to repay the faith the team have shown me,โ€ Ricciardo said.

But theyโ€™re not expecting miracles this season.

The team last won a Grand Prix, with Lotus, six years ago.

About his surprise move from Red Bull to Renault, Ricciardo said he didnโ€™t see it as โ€œtoo much of a gamble.โ€

โ€œThe risk is being let down every year,โ€ he said.

โ€œIf I stayed (with Red Bull) the risk was it doesnโ€™t work again and with Honda maybe that doesnโ€™t happen.

โ€œSo the risk of failure is greater than coming here and having the risk of not winning.

โ€œOut of the two options, they both have some risk but with risk comes reward and I feel that because the growth here is potentially a lot bigger, the reward can certainly be bigger here.โ€

Abiteboul outlined Renaultโ€™s steady progression in the past few seasons:

โ€œThis is the momentum we have gathered: ninth in 2016 with eight points, sixth in 2017 with 57 points and fourth last year with 122 points,โ€ he said.

โ€œWe go into this season aiming to keep this strong and measured momentum. What I want to see is that the team continues its trajectory of progression towards the top teams.

ย โ€œThe added momentum of the Daniel Ricciardo -Nico Hulkenberg partnership brings confidence to the team this season.

โ€œI believe we have one of the strongest โ€“ if not the strongest โ€“ driver line-up on the grid.

โ€œDaniel brings proven race winning experience and knowledge of a top team, while Nico is hungry. Heโ€™s hugely underrated โ€“ heโ€™s quick, determined and a team motivator. Individually they are very strong and I feel the two will complement each other extremely perfectly.

โ€œThe energy they have brought to the team is very tangible and I hope we can give them a car to show their considerable talent.โ€

Hรผlkenberg is now in his third year with the team.

ย โ€œWhen I arrived, the infrastructure was still young, weโ€™ve come a long way since then with a lot of progress,โ€ the German said.

โ€œWe want the trend to continue upwards and keep the developments coming.โ€

March 17 will be the E-Tech 19โ€™s first outing – in the Australian Grand Prix.