Groupe Renault has completed the acquisition of Lotus F1 Team for 2016. The French manufacturer will be partnering with Gravity Motorsport S.a.rl, an affiliate of Genii Capital SA. Renault has formally acquired a controlling share over Lotus F1 Team.
Renault will officially announce the new team name, management, team partners and other details at an event in Paris during February 2016. Currently, a new board of directors has been appointed. Jerome Stoll is the new Chairman while Cyril Abiteboul is the new Managing Director.
Previously, Renault was involved in Formula One as an engine provider.
> From 2016 onwards, they will once again function as a factory led
team. Renault has won several titles in Formula One Championship, it will be great to have them in competition a factory team again.
The first test for Renault and their new car will be held in Barcelona by February-end. Testing has already begun and the technical team will have something special ready for the first test. New livery and drivers will also be seen for the first time in Renault's latest outfit.
Romain Grosjean and pastor Maldonado were previous drivers for Lotus F1 Team. Grosjean has already left the team and joined Haas Racing Team. The decision to keep Maldonado or let him go and get two new drivers is being evaluated and will be announced in February 2016.