Renault will stop supplying engines to Formula 1 teams as soon as possible.

Carlos Ghosn, Renault's chairman and chief executive officer, also remarked that they could end their engine supply deal with Red Bull, due to finish in 2016, early.

"Our future is the subject of detailed analysis and renegotiating," Ghosn told reporters. "We will either exit or run our own team. We don't have a clear decision yet.

"Unfortunately when we were winning championships the Renault name was never mentioned. It was the team that was winning. So we started to feel the return on this investment was very weak.

"It was intensified by the fact that when the technology changed and we moved from the V8 engine to the present technology, some of the teams using our engine did not fare well, and the reasons for which they are not performing became the engine."

Red Bull won four consecutive drivers' and constructors' world titles from 2010-13 with Renault engines, but they have been heavily critical of the manufacturer in public since the start of 2014.