Caterham Group Officially Named at Brazil F1 Grand Prix

Caterham Group Officially Named at Brazil F1 Grand Prix

Less than eight months after the purchase of Caterham Cars by Team Lotus, the company’s chairman, Tony Fernandes, confirmed the creation of a new group with four divisions that will all bear the Caterham name. Fittingly, the announcement was made at this past weekend's Brazilian Grand Prix

"We have been talking for some time now about our plans for Caterham in all its guises, from the road car company to Formula 1 and GP2, and in the technology, design and innovation fields”, said Fernandes.

“Now, with the announcement about the rebranding in Formula One to Caterham F1 Team for 2012 and beyond, we are in a position to give a much more in-depth explanation of how the Caterham Group is taking shape”, he added.

The new group’s four divisions are Caterham Cars, Caterham F1 Team, Caterham Technology and Innovation (CTI) and Caterham Composites, all of which will headed by Caterham Group CEO, Riad Asmat.

Caterham Cars is currently expanding into new markets, by assembling the Seven in India, introducing it to China and preparing the SP/300.R sports prototype for its 2012 launch. At the same time, it is getting ready for a new product range, with the first all-new road car to bear the Caterham logo being scheduled for 2014.

The newly named Caterham F1 Team, which includes Caterham Racing as the new moniker for the Group's GP2 team, will not be restricted to its Formula 1 and GP2 program. Under the guidance of its Chief Technical Officer, Mike Gascoyne, it will be actively involved in many forms of motorsports, from the more than 700 Caterham Seven racers around the world, to GP3, the World Series by Renault as well as karting.

CTI, which was formed in September, will be responsible for the development of a new range of affordable sports cars that promise to remain true to the Seven’s character.

The newly launched Caterham Composites will have Mike Gascoyne as its CEO and will undertake projects for other companies. According to Fernanandes, it is already involved in aerospace, nautical, motorsport and automotive projects.

"With those four arms in place, and more to be announced in due course, we have a dynamic group of businesses already working together that gives a clear vision of what our long-term strategy is in their respective fields, and as one entity under Caterham Group”, said Fernandes.