Team Lotus Formula One has announced it has just bought Caterham Cars from a team of Caterham share holders led by Corven Ventures. Team Lotus owner, Tony Fernandes, has said the new ownership will concentrate on maintaining Caterham's heritage as well as develop new models and expand international market availability.
Caterham cars are extreme lightweight sports cars only available in the traditional Lotus Seven two-seat layout. Caterham actually bought the rights to the Lotus Seven layout back in 1973 and has since been honing and fine-tuning it to suit modern-day speed and technology.
Tony Fernandes has said that tradition will continue with the company but expresses hopes for showroom expansion, recently announcing,
"Caterham Cars has remained wholly faithful to Colin Chapman’s philosophy of ‘less is more’, and the DNA of the original Seven can still be traced to the newest additions to Caterham’s product offering. We both want to evolve, not revolutionise. The Seven will remain at the heart of everything."
Under new ownership, Caterham has already released plans of a special limited edition Caterham Seven decorated in Lotus F1 livery. Only 50 units of the special will be made, 25 of which will be sold in the UK.
More details of the company's plans, including the announcement of possible future products, will be revealed at the British Formula One Grand Prix in July later this year. We'll keep you updated.