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Renault will take over Lotus' F1 team to re-enter Formula 1 as a full manufacturer entry

Sep 30, 2015    

The Lotus Formula 1 team have been fighting the insolvency proceedings brought by the UK Revenue and Customs (HMRC) for a while now, but Renault and Gravity Motorsports S.a.r.l. have now signed a letter of intent to take over a controlling share in the team. This marks the return of the French carmaker into the sport as a full manufacturer entry. This acquisition also helped the Lotus teams cause as the High Court case against them has been adjourned until December 7, 2015 due of the fresh inflow of funds from Renault.Renault said in a statement, The signature of this letter of intent marks Re...

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