French car brand Renault has taken over Caterham's stake in the joint-venture sports car project Alpine.
The Alpine project was previously a 50:50 partnership between the French manufacturer and the British sports car specialist, though troubles with the design and styling of the joint-venture models that were set to be spawned as a result of the tie-up appear to have caused the partnership to be dissolved.
Reports in March this year suggested the entire project could be canned, but Renault has announced it will continue to develop its own sports car in 2016 - the Berlinette of the 21st Century, as the company puts it - and that Caterham will also build a sports car as a result. As such, the former Société des Automobiles Alpine Caterham name will be changed to to Société des Automobiles Alpine.
“With 90 per cent of design specifications complete and an interior design to be finalised before the summer, enthusiasm is growing around the future Alpine production vehicle. The key words for the vehicle are style, enjoyment and sporting spirit,” said Alpine CEO Bernard Ollivier.
Despite the partnership between the two companies coming to an end after having been announced just over 18 months ago in November 2012, Renault is seemingly optimistic about further work between the companies.