Lotus to buy in to Lotus F1 team

Lotus Cars is about to buy in to the Lotus F1 team in the near future.

Tony Fernandes, the 45-year-old Malaysian entrepreneur and AirAsia chief who has set up the revamped F1 team, currently uses the Lotus name under license from Proton, the owners of the British sports car maker Lotus Cars.

"Over time that relationship will grow," Fernandes said. "Lotus will probably buy into the team at some stage. More and more technology from our side will flow into Lotus cars and we will promote the Lotus brand.

"I see it in time being no different from how Ferrari works."

The original Lotus team was founded by Colin Chapman in 1958 and won seven constructors' and six drivers' world championships. It last raced in 1994.

"I don't think we can claim any of the heritage," said Fernandes, "but we are very clear about making sure we don't destroy any of the prestige.

"It's phenomenal history, a phenomenal brand. We can't claim it, but we will work with it, we'll celebrate it and we'll honour it."