Renault confirms Caterham joint venture will be axed

Renault has reportedly confirmed to union leaders in France that its joint sports car venture with Caterham will be axed from the beginning of April.

Both Renault and Caterham will continue to develop their sports cars seperately. Renault has also confirmed the Alpine sports car will go on sale in 2016. The two brands will continue to work together in Formula One.

According to a report from France's CGT union, the cancellation of the joint venture project will have no impact on the 300 jobs held for small-series production at the Dieppe factory, thanks to a new agreement to build the Clio RS there until 2018.

The deal between the two sides was forged in 2012, with the partnership dubbed the Societe des Automobiles Alpine Caterham (SAAC) 

It is not clear whether the two cars will continue to share the same architecture and powertrains. The Alpine has been tipped to get 250bhp, with Caterham said to be chasing nearer 300bhp. The target kerb weight is 1100kg.

Neither Renault or Caterham have released official statements on the situation.

Additional reporting by Darren Moss, 26 March 2014