Formula One Teams change name for 2012 F1 season, Team Lotus is Caterham F1, Virgin is Marussia F1 and Renault is Lotus Renault GP

Formula One governing body, FIA has finally given their nod to 3 Formula One teams, Renault, Virgin and Lotus to change team names for the 2012 F1 season. For years, British sports car manufacturer, Lotus had shown their displeasure over the way their name was being used in the Formula One circuit. Finally they are happy with the new FIA decision which allows teams to change their names for 2012 Formula One season.

Lotus is owned by Proton and when both Lotus and Proton wanted to be associated with a Formula One team, there was a legal battle. Finally Lotus won and was allowed to use the name Team Lotus, but Proton entered F1 with Lotus-Renault Team, which meant that there were two Lotus teams on the circuit.

Formula One officially stated on their website, “The FIA, on the basis of the support expressed by its F1 commission chaired by Bernie Ecclestone, which had a meeting in Geneva on November 3, has agreed the following team name changes as from 2012: Caterham F1 Team (from Lotus); Lotus Renault GP (from Renault) and Marussia F1 Team (from Virgin).”

Team Lotus will now be known as Caterham F1. Lotus recently bought Caterham, and in order to promote the British sportscar brand, has named their 2012 F1 team as Caterham F1. Virgin will change their name to Marussia F1 as Marussia, Russian sportscar manufacturer, has invested in the Virgin team.

Mr Eric Boullier, Team Principal, Renault said, “We are very pleased that our chassis name change has been approved. We have said all along that, in the interests of the sport, it is important that we remove any ambiguity on this matter.”