HVM has become the second team to confirm it will use Lotus engines in the 2012 IZOD IndyCar Series, after Michael Shank Racing announced last month that it will use the new turbo powerplant for its entry into the category.
HVM team owner and former Formula 1 entrant Keith Wiggins said of the decision that he had no doubts about switching to Lotus power for the new-for-2012 format instead of the Honda or Chevrolet options.
"Despite the choices, once it was apparent that Lotus would produce an engine, it was a clear decision for us to run with them," said Wiggins, whose team fields Swiss racer Simona de Silvestro. "I have great respect, confidence and enthusiasm in the product they will produce. I have good historical knowledge of the companies involved and their abilities.
"Being the first [current] team to commit reflects this and being an integral part of the Lotus development process is important to the re-establishment of HVM as a leading team, this time in the IZOD IndyCar Series."
In a statement which described the deal as 'the emerging partnership of Lotus HVM Racing', Group Lotus Director of Motorsports Operations Miodrag Kotur said: "We are delighted to be partnering with such a well-established and ambitious team as HVM.
"We're pleased that HVM has shown such faith in Lotus at the start of a new chapter of our commitment to the IZOD IndyCar Series. We have been working tirelessly on our engine program since we announced our intention to produce a new engine in line with the new rules and direction of the Series. We believe that our efforts will pay dividends as the numbers that are coming from our dyno testing are extremely encouraging.
"We have also managed to produce a very light powerplant, in the true spirit of Lotus. However, we are keen to test the package on track and look forward to our first test in early January, slightly later than originally planned but designed to give us more time to fine-tune our package before taking to the track."
An additional announcement regarding Lotus IndyCar partners is expected later today at the L.A. Auto Show. Bryan Herta Autosport is also tipped to be running Lotus engines next year.