The principal of Team Lotus, Tony Fernandes, had bought over the niche British sportscar company Caterham. Documents supporting the fact has indicated that Anthony Francis Fernandes was appointed a director of Caterham Cars as of April 12. This is followed by a statement from Team Lotus that it would be making 'an incredibly exciting announcement about the future of our team' next week.
The move to buy over Caterham has extreme significance to the ongoing saga between Fernandes' Team Lotus and the Group Lotus about the usage of the Lotus name. Caterham initially begun as a dealer for the Lotus Seven and then purchased the rights to continue manufacturing the Seven when Lotus ceased production in 1973. Currently, only the Seven is in Caterham's stable of products but the company has just launched a new car, the SP300R, a dedicated track car along the lines of the Radical, that was done in collaboration with renowned race car chassis producer Lola.
By purchasing Caterham, Fernandes now has another way into the automotive industry following the difficulty that is a result of the Group Lotus saga. It would also offer him an alternative should the London High Court deliver its final verdict next month that would force him to relinquish using the Lotus name.
Source: ESPN
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