The Caterham F1 Team has unveiled its new logo for the 2012 Formula 1 season, when the former Team Lotus will race under its new name.
The team made its debut last year but, after a long battle over its name, it will be renamed Caterham in 2012, with the current Lotus Renault team becoming Lotus.
Team boss Tony Fernandes insisted the Caterham move makes sense for his squad.
"With Team Lotus, I would have battled to the end if I felt it was the right thing to do, but when you take a dispassionate look at where we were it made absolute sense to start with a clean sheet, and Caterham has given us that chance," said Fernandes. "It's the best possible solution for where we want to go – partly because it gives us complete control over everything we do and, obviously, because there's simply no point racing to promote a road car company I don't own. The road car business has always been a sector I've wanted to explore and so here we are.
"But I can't stress enough, this is a serious business venture for us. If I just needed a new name, I could have called it anything, but the synergy with Caterham works better. And, it's what I do – take a small business with the correct core values and purpose and expand it and grow it into the global marketplace."