After a signed letter of intent and verbal confirmations that followed earlier this month, Renault has finally announced that it has officially completed the successful acquisition of the Lotus F1 Team. The deal between Groupe Renault and Gravity Motorsport S.a.rl, an affiliate of Genii Capital SA, was formalised and completed on December 18. With this, Renault now holds a controlling share of Lotus F1 Team Limited.
It was announced that the team’s new name, full management structure, partners and other details will be announced in February 2016, amidst the Formula 1 pre-season tests. For now, a new board of directors have been appointed, with Jérôme Stoll named as chairman and Cyril Abiteboul as managing director.
It is said that the new team will not be delayed in any technical capacity for the coming Formula 1 pre-season tests, and that its 2016 racer will be ready for the Barcelona winter practice sessions at the end of February.
Earlier, Renault-Nissan boss Carlos Ghosn said that, “Renault had two options: to come back at 100% or leave. After a detailed study, I have decided that Renault will be in Formula 1, starting 2016. The final details supplied by F1’s main stakeholders gave us the confidence to accept this new challenge. Our ambition is to win – even if it will take some time.”
Looking to sell your car? Sell it with Carro.
Get rid of the hybrid engine already. Hybrid is only for LMP cars. F1 is all about speed, not efficiency or endurance. Your green or eco ideas are only acceptable in WEC.