Genii Capital and Group Lotus plc today announced the creation of Lotus
Renault GP, the successor to the Renault F1 Team that will contest the 2011 FIA
Formula One World Championship. This exciting announcement is made in the
context of a strategic alliance between the two companies that will provide
Group Lotus with significant technological and commercial opportunities for its
range of road cars.
Following the return of the Lotus name to Formula 1
in 2010, under licence from Group Lotus, this historic announcement marks the
complete return of the Lotus manufacturer to the sport, with the full backing of
its parent company Proton. Group Lotus plc will become a major equity partner of
Genii Capital in Lotus Renault GP, and the two parties have concluded a title
sponsorship agreement that will run until the end of the 2017 season. With the
continued support of Renault as a supplier of engines and technological and
engineering expertise, Lotus Renault GP enjoys a strong, stable platform for
future success.
Group Lotus CEO Dany Bahar said: "I can think of no
better platform for automotive brand communications than motorsport and F1 is
the very pinnacle of open-wheel racing. We're well aware that there has been a
lot of controversy around the usage of our brand in F1 and I'm delighted to be
able to formally clarify our position once and for all: we are Lotus and we are
back."
Renault will continue its strong support of the team with which it
won the 2005 and 2006 world championships, as a supplier of engines and
technological and engineering expertise. Reflecting this technological support,
Lotus Renault GP will continue to compete with the Renault chassis name and
Renault will enjoy pre-eminent brand exposure on the livery.
For 2011,
the Lotus Renault GP cars will race in a new interpretation of the iconic black
and gold colors that were last used when Lotus and Renault joined forces in the
1980s. This livery, which has been on the drawing board for over two months in
order to reinterpret its iconic graphic signature to suit modern media
requirements, is sure to strike a powerful chord with the sport's enthusiasts
around the world.
The team scored a strong fifth-place finish in the 2010
constructors' championship, which included three podium finishes for Robert
Kubica. Next season, Lotus Renault GP is aiming to take another step forward
which will see it competing regularly with the most prestigious names in Formula
1.
The announcement of Group Lotus' plans for 2011 comes despite Team
Lotus chief Tony
Fernandes pushing on with his plans to race as Team Lotus next year - with his
outfit now also having Renault engines and set to run in black and gold colors.
This creates an interesting possibility that we might see four Lotus Renaults
with very similar livery on the grid in 2011.
Update 12/11/2010: Team Lotus has announced that it will stay with its green and yellow colors for 2011 after chief Tony Fernandes said it would be 'ludicrous' for his squad to run in the same paint scheme as the rebranded Lotus Renault outfit.