Singapore (AFP) - Toro Rosso driver Carlos Sainz will join Renault on loan next season, the French team said on Friday, partnering Nico Hulkenberg and elbowing out Britain's Jolyon Palmer.

The move by the 23-year-old Spaniard is one of a number of changes related to McLaren's decision to drop its Honda engines in favour of Renault at the end of this year.

"To be a Formula One driver for a manufacturer team is an honour and I hope to reward Renault's faith in me with my very best performances on track," Sainz said in a statement.

Renault's managing director Cyril Abiteboul thanked Red Bull, Toro Rosso's parent company, for loaning Sainz and also praised Palmer for his contribution over the past two seasons.

"He is a dedicated driver and we wish him the best in the next steps of his career," Abiteboul said.

Earlier, McLaren said it was splitting with Honda and going with Renault, while Renault announced the end of its partnership with Toro Rosso - which will now be powered by Honda.