Renault announced the Formula One comeback of Danish driver Kevin Magnussen at the launch on Wednesday of a new-look team that will put the French carmaker back on the starting grid as a constructor this season.

Magnussen, whose F1 career appeared to have stalled after he spent last year on the sidelines and then got cast aside by McLaren, has replaced Pastor Maldonado after the Venezuelan's funding dried up.

Renault bought back the team, which they had sold at the end of 2009 after winning championships with Spaniard Fernando Alonso in 2005 and 2006, last December. They will now compete under the Renault Sport Formula One name.