Team Lotus chief Riad shrugs off name dispute

Team Lotus shrugged off a decision by Malaysian carmaker Proton to compete next year with its own Lotus brand and vowed to finish the 2011 season in the top eight.

The Lotus group, which is owned by Proton, announced this week it has taken a major equity stake in the Renault Formula One team, which will be renamed “Lotus Renault GP” for 2011.

Its move, which will see two teams on the grid under similar names and in the same classic black-and-gold colours, is the latest twist in a wrangle over the Lotus brand.

State-owned Proton bought a controlling stake in the British sports and racing carmaker Group Lotus in 1996.

Meanwhile, Tony Fernandes, the flamboyant founder of Malaysia-based budget carrier Air Asia, returned the Lotus marque to the sport in the 2010 season after a 16-year absence.

In September, Proton terminated Fernandes’s licence, forcing him to drop the original name of Lotus Racing and compete as Team Lotus next year. However, the issue was not resolved by the name change and legal action is ongoing.

Team Lotus chief executive Riad Asmat said they had anticipated Proton’s move into F1 but that it would not deter them from building on their 10th place achieved in the first season.

“It was no surprise. F1 is a close community. We heard about their plan,” he told AFP.

“It is part and parcel of their business. It is their choice. I do not think anything can distract us for now.”

Team Lotus has not announced its drivers for the new season but said it will use Renault engines and Red Bull technology for its gearbox.

Riad said that preparations for the 2011 season were progressing well and the cloud of uncertainty over name ownership had not affected sponsorship.

“I don’t think anyone is hesitating to associate with us. We have established ourselves as a professional team,” he said.

Malaysia will have involvement in three F1 teams in the 2011 season – Lotus Renault, Team Lotus and Mercedes, which has national oil company Petronas as its main sponsor.