Team Lotus and Lotus Group bury the hatchet
The Malaysian team and the manufacturer have reached an amicable agreement in the conflict that has opposed them for a year over the name 'Team Lotus' and are even considering working on joint projects in the future.
Despite nearly a year of a bitter battle over the Lotus name, Team Lotus and Lotus Group have buried the hatchet in a statement published by the Malaysian team. The two parties officially reached an amicable agreement just a month ago, as part of the legal dispute that opposed them.
Originally, however, Tony Fernandes’ team had entered under the Lotus license, in agreement with Lotus Group, owned by the Malaysian manufacturer Proton. At the end of 2010, Lotus Group decided to end this association, turning its attention to the Renault team, which would compete in the 2011 season under the name of the iconic manufacturer. However, Tony Fernandes reached an agreement with David Hunt, the last owner of the team founded by Colin Chapman, to use the name ‘Team Lotus’.
The 2011 season thus saw two teams bearing the name Lotus, a situation that will not be repeated in 2012, as Team Lotus will compete in the championship under the name Caterham F1 Team, with a Caterham chassis, while the current Lotus Renault Grand Prix team will inherit the right to use the Lotus name for its chassis, a change that could even have repercussions on the team’s name.
In the name of the Lotus group and Proton, I would like to say how delighted I am that this issue is resolved and that we can now look to the future, Dany Bahar, executive chief of Lotus Group, rejoices. We understand that this has been a very difficult and confusing time for sports fans and for the Lotus brand, so we are happy to have found a clear solution on this important issue: I would like to take this opportunity to thank our fans for their continued support: it means a lot to us.
On his side, Riad Asmat, CEO of Team Lotus, is pleased that the team has helped to resurrect a mythical name in Formula One as a new chapter of its history will open in 2012, under the name of Caterham: « We are proud of what we have accomplished in bringing the Lotus name back to Formula One while many others have tried, and although we are sad to say goodbye to the ‘Team Lotus’ name, we are happy to have our own future and our destiny in hand. Now, we have no one to be compared to. We will write our own story and we will remain green and yellow. Now, we look forward to an exciting future competing under our new name of Caterham F1 Team. »
While the terms of the amicable agreement remain confidential, both parties have stated that they are working together on future joint projects in the automotive field. Indeed, although they will no longer share the same name in 2012, Lotus Group and Caterham F1 Team – the future former Team Lotus – share the same heritage, with Caterham producing the timeless Lotus Seven.
