Renault have revealed their new car, with drivers Nico Hulkenberg and Jolyon Palmer taking the wraps of the R.S.17 at an unveiling ceremony in the UK. The team is targeting fifth place in the 2017 championship.

Renault has launched their latest 2017 F1 car, RS17, which was unveiled Tuesday, Feb. 21. After not so great results in 2016, Renault believes that their new engine and a change of philosophy in the RS17 will help them to achieve success as compare to last year.

According to Telegraph, the car was launched live online at 15:00 GMT Tuesday afternoon. At first look, the most noticeable design change in the RS17 was the inclusion of a thumb-style nosecone. However, this feature was the most rejected concept in the recent years.

During the event, drivers Jolyon Palmer and Nico Hulkenberg had the honor to pull the sheet and reveal the all new Renault RS17. Renault has also used the event to welcome the former driver and four-time champion Alain Prost to their staff as a special advisor. Prost said that the big tires of the FS17 reminded him of the old days.

The 2017 model of Renault RS17 comes with brighter yellow livery. According to Cyril Abiteboul, who is the managing director at Renault F1, the team has been very aggressive with the newly design engine of RS17 and the new car team is targeting fifth place in the 2017 championship, according to Formula1.

The Renault RS17 is powered by the new RE17 engine, which is a departure from last year's power unit. Renault felt the old design had reached its maximum potential.

Renault also hopes that they can overcome the low performance in 2016 when they finished 9th in the constructors championship. Mercedes has been world champion three times so far.

It is supposed that, if Renault can get within 3 percent of the performance of F1's pacesetting engine, the team will have no problem taking the fight to Mercedes with new RS17. The Renault's new RS17 is also expected to hit the track for testing at Barcelona next week.

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