Team Lotus and Renault Sport F1 have confirmed that their existing engine deal is to be extended for a further year, taking it to the end of 2013, which will also be the end of the V8 engine era in the sport. Both parties aim to continue working together when the new engine regulations (V6 turbo, read about it here) come into force.

Renault Sport F1, which currently also provides engines to champs Red Bull and Lotus Renault GP, and Red Bull Technology will also provide the Malaysian owned squad with KERS systems for the first time for the duration of the agreement. The current T128 does not have the power boost system.

“They are both passionate, dedicated teams of people with whom we have a growing relationship that is creating a number of exciting opportunities for us for the future. They share our vision for where we want to take our team, and we are very proud to have their power pushing us forward,” said Team Lotus boss Tony Fernandes.

“Not only will we be able to build on everything we have learnt through working with Renault and Red Bull Technology in 2011, but we will now have the added benefit of KERS for next year, which really is a major step forward for our team. We have done the very best job we can this year but without that extra power we are always competing on a different level to the teams ahead, so to give our drivers that boost is a key element of helping us catch the cars ahead, and compete with them when we do so,” he added.