Group Lotus CEO Dany Bahar said: “I can think of no better platform for automotive brand communications than motorsport and F1™. Genii, an investment holding company with a portfolio of automotive technologies, bring non-F1™ technologies such as lightweight braking systems, variable compression engine technology and on board software systems to the partnership. The partnership between Lotus and Genii brings the ability to quickly incorporate new technologies from F1™ cars into Lotus road cars including hybrid technology, Kinetic Energy Recovery Systems (KERS), aero advancements and lightweight materials. The transaction represents a partnership between Group Lotus and Genii Capital and signifies the beginning of a more comprehensive strategic alliance between the two organisations. Group Lotus plc will acquire a major equity stake in the team from Genii Capital. Lotus’ racing pedigree and heritage coupled with Renault’s technology in Formula 1™ will set the united team on a path to future success.

The association heralds the return of a highly successful Formula 1™ association between Lotus and Renault from the 1980s. Group Lotus plc and Genii Capital are pleased to announce a partnership which will see the Renault F1 Team renamed as ‘Lotus Renault GP’ from the start of the 2011 racing season onwards. We’re well aware that there has been a lot of controversy around the usage of our brand in F1 and I’m delighted to be able to formally clarify our position: We are Lotus, and we are back.' Group Lotus CEO Dany Bahar said: 'I can think of no better platform for automotive brand communications than motorsport and F1.

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