In line with the rebranding of Team Lotus to Caterham F1 Team next season, the creation of a newly-formed business called Caterham Group has officially been announced. The Group is the parent company name for the range of automotive, motor racing, technology and innovation companies that will sit within a single business under the stewardship of Group CEO, Riad Asmat.

At launch, Caterham Group consists of four main areas, these being Caterham Cars, Caterham F1 Team, Caterham Technology & Innovation (CTI) and Caterham Composites. The announcement was made by chairman Tony Fernandes at the Brazil Grand Prix in Sao Paulo.

“We have been talking for some time now about our plans for Caterham in all its guises, from the road car company to Formula 1 and GP2, and in the technology, design and innovation fields. Now, with the announcement about the rebranding in Formula One to Caterham F1 Team for 2012 and beyond, we are in a position to give a much more in-depth explanation of how the Caterham Group is taking shape,” Fernandes said.

The Caterham F1 Team, which includes Caterham Racing as the new name for the Group’s GP2 outfit, will act as a focal point for a development programme that encompasses 700 plus Caterham Seven racers around the world and various motor racing formulae from karting, GP3, World Series by Renault and up to F1.

Meanwhile, Caterham Technology & Innovation (CTI), which was launched in September, will assist Caterham Cars on the development of the next generation of accessible and affordable sportscars as well as undertake advanced projects for external companies operating within the automotive and aerospace sectors, including a radical new in-flight entertainment system.

Elsewhere, Caterham Cars, which is readying the SP/300.R sports prototype for 2012, will continue laying the foundations for a completely new product range that will see the first all-new Caterham road car due out in 2014, and Caterham Composites will work on projects across the aerospace, nautical, motorsport and automotive industries.

“With those four arms in place, and more to be announced in due course, we have a dynamic group of businesses already working together that gives a clear vision of what our long-term strategy is in their respective fields, and as one entity under Caterham Group,” Fernandes added.

“This range of business interests provides us a very strong foothold in a number of growth sectors, staffed with teams of people with a strong mix of experience, youth, creativity and passion. In short, we have all the right ingredients in place to do some incredibly exciting things in markets that are ripe for innovation and new ideas.”

“With those plans now complete, we have the foundations in place for long-term growth and success, and now we are in complete control of our own destiny. We have a very exciting future ahead of us and are all looking forward to seeing the rewards of our hard work pay off for many years to come,” Fernandes said.