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Caterham Group Not For Sale, Says Chairman Tony Fernandes
Not long after rumours about Caterham Group, owned by Malaysia's Tony Fernandes, being up for sale emerged, the Chairman himself has come out to dismiss the news.
An official statement issued by the Group said that earlier reports were incorrect and that its owners were fully committed to the brand.
Fernandes also made it clear that The Caterham Group was not for sale. "Yes, we are constantly challenging ourselves and making decisions on everything from the structure to projects within the Group. That is normal business. That does not mean we are selling."
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He also added that they "are always looking for further investment" to meet their ambitious goals.
Tony Fernandes, who also runs Malaysia's AirAsia, a low-cost airline, got hold of the rights to Caterham F1 team (which was formerly team Lotus) and Caterham Cars between 2010 and 2011.
He clubbed the racing outfit, the sports car manufacturing company, along with Caterham Technology and Innovation (CTI ) and Caterham Composites under the Caterham Group.
Under the leadership of Fernandes, Caterham set lofty goals, which included plans to expand into building mainstream consumer cars, building the Alpine sports car in collaboration with Renault and launching the production version of the AeroSeven concept.
Unfortunately, things have not been going as planned for the Group. After four years, the Caterham F1 team is yet to score a single point and is, in fact, the only F1 team currently in the grid that's in that pitiful position.
The partnership with Renault, meanwhile, came to an abrupt end, with the future of Alpine sports car uncertain. Even the launch of the AeroSeven concept has been delayed.
Despite all the challenges, however, we are now at least certain that Fernandes will hon on to the brand, at least for now.
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