Lotus, formerly known as Lotus Renault GP, has pulled the wraps off its 2012 Formula 1 challenger. Called E20, it’s named after Enstone, the team’s base in UK. It’s the 20th F1 chassis designed at the Oxfordshire facility. The men charged with driving the black and gold cars are Romain Grosjean and returning champ Kimi Raikkonen.

The target for the duo is fourth in the Constructors’ championship this year, set by team owner Gerard Lopez of Genii Capital. Last year, the Lotus sponsored Renault team started strongly with two podiums in the first two races, but eventually finished a distant fifth, just six points ahead of Force India.

“The hopes are to be able to get one season together and do what we were expecting last year. We hope to have a strong car, and have strong drivers, one of which is of course an ex-world champion. We hope to bring the car up to the front of the pack and probably try to aim for fourth as a reasonable goal for this season,” Lopez said.

On another note, “we’re obviously extremely proud that finally the Lotus name is a clear concept for everybody in Formula 1 now,” the owner added. The former Team Lotus, owned by Tony Fernandes, will race as Caterham this season.

The E20 wears familiar black-gold clothes, but there are new sponsor logos from Rexona and Clear Anti-Dandruff shampoo on the flanks.