Red Bull boss Dietrich Mateschitz has reiterated his threat to pull his company out of Formula 1 if the team can't rediscover its competitive form or if Renault reduces its backing.

Champions between 2010 and 2013, Red Bull has struggled to adapt to the new regulations introduced at the start of 2014 and has endured a similarly difficult beginning to 2015.

Having publically aired its frustrations at power unit supplier Renault for what it considers a failure to develop a reliable and competitive engine, Mateschitz said after the Australian Grand Prix that Red Bull could walk away from the sport if the regulations aren't amended again.

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It is a threat he has gone on to reiterate ahead of the third round in China, emphasising that it won't remain in F1 if it cannot challenge for wins.

"We'll only stay in Formula 1 if we have a competitive team, and we need a competitive power unit for that," Mateschitz told the Austrian Press Agency. "If we don't have one, we can race with the best car and the best drivers and still have no chance of competing for victory."

The quotes come as Red Bull's future plans remain unclear even if it stays, with Renault suggesting it could turn its attention to purchasing its own team - namely Toro Rosso -, leaving its partner with limited engine supply options if it doesn't retain what would be a reduced collaboration with the French firm. It is a situation that Mateschitz suggests will influence Red Bull's future plans.

"Of course Renault can also weigh its options, including a pull-out," he continued. "As a manufacturer, it's your task to deliver a competitive power unit. If you can do that, it's great. If, for whatever reason, you can't do that, you should pull out. Then the consequences for us would be clear, too."

Mateschitz went on to confirm Christian Horner's dismissal that Red Bull could consider developing its own power unit, saying it isn't worth the investment without manufacturer assistance.

"We are not a car manufacturer who could justify the investment," he said. "So we rely on Renault to close the gap to Ferrari and, above all, Mercedes."