Team Lotus, which has India's Karun Chandhok as its reserve driver, will now be called the Caterham F1 team. The team has a Malaysian owner in Tony Fernandes.
The Britain-based Renault team will become Lotus, with their full name remaining Lotus Renault GP.
Richard Branson's Virgin Racing will become Marussia F1 team.
Deccan Herald is on WhatsApp Channels | Join now for Breaking News & Editor's Picks