Group Lotus hints at full team takeover

Group Lotus says its Formula 1 ambitions extend beyond being a title sponsor and shareholder of the re-branded Lotus Renault team - as it hints about taking full control of the outfit in the next few years

Group Lotus hints at full team takeover

The Malaysian-owned car maker has taken a significant stake in Lotus Renault, with the other half of the company remaining under the control of Genii Capital.

And although nothing has been decided yet about future ownership plans, Lotus CEO Dany Bahar has hinted about a full-on takeover in the next few years.

"Our way of doing things means that at the end of the project we would like to control it ourselves," he told this week's AUTOSPORT in an exclusive interview.

"It's the same route - it starts somewhere and then you slowly take control. We would not be in for the long-term just to be a sponsor on the team."

Gerard Lopez, the head of Genii Capital which brought a majority shareholding in the team at the end of last year, said that his company remained committed to staying involved for now.

"There is no real timescale to it," he said. "There is the opportunity for the partnership to evolve in the future. To discuss, even between ourselves, what the world is going to look like in five years is really difficult.

"I wouldn't be surprised if there were changes in the future but at this stage things are good the way they are. We are committed long-term."

Lotus's ambitions plans in racing and on the road car front have prompted questions about whether or not the company has the finances in place to see its plans turned into reality.

Bahar is adamant, however, that the money is there for Lotus to succeed.

"We would not commit without backing from shareholders, banks and investors," he said. "If we didn't it would be foolish to come up with ambitious plans like this."

shares
comments
Hulkenberg eyeing Force India seat

Previous article

Hulkenberg eyeing Force India seat

Next article

Lotus Renault: Petrov is first choice

Lotus Renault: Petrov is first choice
Load comments

About this article

Series Formula 1
Teams Team Lotus , Lotus F1 Team
Author Jonathan Noble
How Hamilton’s qualifying record compares to Senna and Schumacher Plus

How Hamilton’s qualifying record compares to Senna and Schumacher

Lewis Hamilton has just become the first driver to record 100 world championship Formula 1 pole positions. Time to revisit a debate we discussed when he reached 150 front row starts in 2020.

Why sustainability is being mandated by F1 Plus

Why sustainability is being mandated by F1

Continuing to be socially acceptable as public views shift globally is vitally important to the future of motor racing, says PAT SYMONDS - especially in Formula 1, the championship that represents the technological peak

The Barcelona practice times that prove Red Bull's title credentials, and heap pressure on Verstappen Plus

The Barcelona practice times that prove Red Bull's title credentials, and heap pressure on Verstappen

Lewis Hamilton and Mercedes led the way in Friday practice for the 2021 Spanish Grand Prix, but there was one big encouraging sign for Red Bull. The trouble is, it looks like making good on that gain will require its superstar driver to avoid repeating a mistake made today that left him well down the FP2 order

Formula 1
May 7, 2021
Why McLaren doesn’t doubt Ricciardo can escape his ‘dark’ place Plus

Why McLaren doesn’t doubt Ricciardo can escape his ‘dark’ place

Three points finishes from as many starts represents a decent opening innings on paper, but Daniel Ricciardo has endured a tough start to his McLaren career - only magnified his team-mate's excellent form. Yet both he and the team have good reason to expect a turnaround soon

Formula 1
May 6, 2021
What needs to “change” for Red Bull is ending Verstappen’s errors Plus

What needs to “change” for Red Bull is ending Verstappen’s errors

OPINION: Going up against the dominant force of Mercedes and Lewis Hamilton was always going to demand the best from Red Bull and Max Verstappen. But after making a couple more errors during the Portuguese Grand Prix, the Dutch driver showed there's a small gap he still needs to close in the 2021 Formula 1 title fight

Formula 1
May 5, 2021
The "subtle" Red Bull upgrades that kept it in the Portugal F1 mix Plus

The "subtle" Red Bull upgrades that kept it in the Portugal F1 mix

Red Bull's Portuguese Grand Prix fortunes were decidedly second best to Mercedes', but the result skews the potential that the team had at Portimao. With a new set of updates, the team looks good going forward into the rest of 2021's spicy F1 competition

Formula 1
May 3, 2021
Portuguese Grand Prix Driver Ratings Plus

Portuguese Grand Prix Driver Ratings

The 2021 Portuguese GP will for several drivers go down as a weekend of missed opportunities amid imperfect track conditions that caused struggles with tyre warmup. But the performances of a select few stood out from the crowd

Formula 1
May 3, 2021
How Hamilton took a “completely different journey” to Portugal victory Plus

How Hamilton took a “completely different journey” to Portugal victory

Just as he did in 2020, Lewis Hamilton had to come from behind to win the 2021 Portuguese Grand Prix. Only this time there were two rivals he had to pass, among the several challenges he had to overcome, on his way to securing a 97th grand prix victory

Formula 1
May 3, 2021