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Team Lotus confirms Caterham buyout

Team Lotus have confirmed the purchase of British sportscar maker Caterham Cars.

Caterham has links with Lotus dating back to when they bought the rights of the design of Colin Chapman's previously designed Lotus Seven.

When the Lotus Seven ended production in 1972, Caterham bought the rights to the design and since 1973 have continued to make both kits and fully assembled Caterham Seven's.

In 2007 the Lotus/Caterham Seven celebrated its 50 year anniversary.

'Caterham has a unique place at the heart of the motoring world, as well as being proudly and staunchly British, it has an enviable and uniquely unblemished reputation within the industry for performance, handling and engineering excellence.' Lotus team principal Tony Fernandes said in a statement released to formula1.com.

'Caterham Cars has remained wholly faithful to Colin Chapman's philosophy of 'less is more', and the DNA of the original Seven can still be traced to the newest additions to Caterham's product offering.

'It is already a successful business with sales across Europe, Japan, Australia and the Middle East, and under the guidance of the existing management team, we now have all the ingredients and the launch pad to further evolve that spirit and take Caterham to new exciting horizons with innovative products and greater global brand exposure.'


With the British courts decision regarding the ongoing Lotus naming dispute this acquisition is sure to spark speculation.

However that subject was not mentioned in the statement, but the team did confirm that the development of Caterham Cars famous Seven brand would continue, using F1 technology.








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The Journalist

Writer: Red5 Mail feedback, articles or suggestions

Date:Wednesday April 27 2011

Time: 2:06PM

 

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