28 Apr 2011

Team Lotus F1 owners buy Caterham cars

7:39 am on 28 April 2011

Formula One's Team Lotus has bought Caterham Cars in a deal linking the niche sportscar maker to the glamour world of grand prix racing.

The takeover by team principal Tony Fernandes and fellow Malaysian associates Kamarudin Meranun and SM Nasarudin turns the wheel full circle for the company's famed lightweight Seven model.

The affordable British-built sportscar, launched in 1957 and still raced around the world, was designed by the founder of the original Team Lotus Colin Chapman before he ended production and sold the rights to Caterham in 1973.

The announcement comes as Team Lotus are locked in a legal battle with Malaysian-owned Group Lotus and carmaker parent Proton over the use of the Lotus brand name with the London High Court due to make a ruling next month.