Formula 1: Renault Launches Acquisition of the Lotus Team

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Renault is to acquire the Lotus Formula One team
Renault is to acquire the Lotus Formula One team
Pastor Maldonado on his Lotus, at the Grand Prix of Japan. | Photo: AFP

Renault announced today, Monday it had started the process of the acquisition of the Lotus team, the first step in a return of the French group to the pinnacle of motorsport.

The French group, Renault, has announced today that it has started the process of acquisition for the Lotus Formula 1 team, the first step of a full and complete return of the Renault group to the pinnacle of motorsport in 2016, and putting to an end the many rumors and speculation about the return of Renault and the future of the Lotus Formula one team.

Renault and Gravity Motorsports signed “a letter of intent regarding the potential acquisition by Renault of a majority stake in the Lotus F1 Team capital”, said the manufacturer in a statement.

It is a “first step in the project of a Renault team in Formula 1 in 2016, continuing 38 years of brand engagement in the supreme discipline of motorsport”.

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