Team Lotus Confirms Purchase of Caterham Cars

As expected, Team Lotus Enterprise has today confirmed the acquisition of British sportscar maker Caterham Cars. According to the official press release from Team Lotus, Tony Fernandes, Kamarudin Meranun and SM Nasarudin were the ones to represent Team Lotus in the buyout.

The agreement will not produce any changes in Caterham Cars' current management scheme, as the company's managing director Ansar Ali will continue in his role. Ansar's contribution to the Caterham Cars legacy is best known through the iconic Superlight R500 model – Top Gear's Car of the Year 2008 – and the SP/300.R sports prototype model.

According to the statement released by Team Lotus, the company's Seven brand will continue to be developed.

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,” said Fernandes, who is currently the team principal of Team Lotus in Formula 1.

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.”

The acquisition of the company by Team Lotus Enterprise will allow our existing management team to take Caterham’s core spirit of pure driving enjoyment to a hitherto un-served audience,” added Ali.

It's yet to be announced whether the move will have any impact on Team Lotus' F1 operations, in terms or name or sponsorship.
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