FIA approves name changes for three F1 teams

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.

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