Our Ideas and Additional Information:
I would like MENGAL to be the main component of the logo. Racing Solutions is more a sub titles and may change in the future, so this text has to be modifiable. Also MENGAL brand should be sufficiant by itself. If we remove Racing Solutions, the logo is still valid.
I like to have three color stripes somewhere, just like in racing visuals (blue, orange & grey), but this is not mandatory. The letter of MENGAL can contains stripes in one or all letters. It depends on all the other feature you will add in your proposals.
I prefer raw and square style than rounded style or more elaborated logos.