Lotus to change name to Team Lotus and engines to Renault

So far, all the 3 rookie teams including Virgin Racing and Hispania Racing together with Williams are using Cosworth engines but all have yet to score any good results so far. The 3 teams have not finished higher than thirteenth while Williams are not anywhere near champion material. Renault powered cars however have been very impressive where the Renault F1 team have been working their way up, the most remarkable result would have come from the Red Bull Racing team who are leading the standings.

Apart from the engine change, the team will also no longer be using the Lotus Racing brand and will instead use Team Lotus made famous by the team’s heydays when it was doing excellently well with drivers like Nigel Mansell, Nelson Piquet, Graham Hill, Jim Clark, Emerseon Fittipaldi and Stirling Moss in the helm. Then, Team Lotus won 7 world championships and finished with 79 GP wins. The team name actually belonged to David Hunt who is holding the rights for James Hunt the late world champion which is now acquired by the Malaysian owners. According to a statement by Cosworth, the agreement to terminate the 3 year contract has been agreed in principal but has yet put pen on paper.