Fernando Alonso won't race for Renault when he returns to Formula One in 2021 but rather Alpine.

Renault is backing its Alpine performance marque in a big way, announcing Sunday that its Formula One team will be rebranded Alpine F1 next season. Renault also provided a teaser of the new livery for Alpine F1, which features the colors of the French flag and is dominated by blue—France's racing color and the signature color of Alpine. The current Renault livery is yellow and black.

Despite the name change, the team's current base in Enstone, United Kingdom, won't change. The team's power units will also continue to be branded as Renault units.

2017 Alpine A110

2017 Alpine A110

F1 is in for a major shakeup over the coming years. Although teams will continue to race their 2020 designs in 2021, the new season will see a $145 million budget cap introduced. A radically new car design will then be introduced in 2022 and the budget cap will be further reduced, which should help even the playing field.

Alpine was born out of racing and has achieved multiple successes in endurance racing and rallying, though this will be its first time competing in F1. The move is a clear sign of Renault's commitment to Alpine, whose sole product, the A110 sports car, sells less than 5,000 units annually.

In a statement, Renault said entering Alpine in F1 is a key step to accelerating the development and influence of the brand. Under the guidance of new CEO Luca de Meo, Alpine will be made a key pillar of Renault alongside the Renault and Dacia brands, and a new mobility unit. That means we can look forward to new Alpine products in the future, though sadly there are no plans to bring the brand to the United States.