Team Lotus to stay green and yellow under Caterham name in 2012

Team Lotus will continue to run in a green and yellow livery in grands prix next year, despite Tony Fernandes' squad being rebranded as Caterham F1

Fernandes, who decided to rebrand and end a long-running dispute over naming rights with rival Group Lotus, said that maintaining a traditional British look would be important for the team's image in the future.

"Next year we will still be green and yellow, we will call ourselves the Caterham F1 Team, with the same people," Fernandes said. "It [Caterham] is a global brand, but it's also British brand. Let's not run away from that.

"Let's be very clear. My roots are in Asia, and you can't change that, but great British brands are doing very well in Asia, and you can't change that either. That historic side; it will be very much a British brand."

Fernandes also confirmed that the team's current base at Hingham in Norfolk will remain part of the wider company, even though the F1 squad is expected to move to the former Arrows base at Leafield.

"There is talk about part of our team moving, but Hingham will stay," he added. "Probably the plan is that we will have the F1 team and the car company together, somewhere.

"We are close to announcing that, and Hingham will remain as a technology division and composites side. So the group will be F1, car company, and a technology division that will have two bits - an engineering division and a composites division.

"We see tremendous upside in terms of composites - a lot of technology developed for F1 cars which can be applied to the aviation industry and we will be moving that forwards."