<p>The International Automobile Federation (FIA) said in a statement that for 2012 Team Lotus would become Caterham F1 Team with the chassis name switching from Lotus to that of the niche sportscar maker. <br /><br />Group Lotus-sponsored Renault will still be known as Lotus Renault GP but the chassis designation will switch from Renault to Lotus. <br /><br />Virgin Racing will take the name of its major Russian shareholder as Marussia F1 team. The changes were agreed at a meeting of the Formula One commission, chaired by F1 supremo Bernie Ecclestone, at a meeting in Geneva on Thursday and details had already leaked out to the media. <br /><br />Team Lotus entered Formula One as Lotus Racing last season but then fell out with Group Lotus and their parent company Proton.<br /></p>
<p>The International Automobile Federation (FIA) said in a statement that for 2012 Team Lotus would become Caterham F1 Team with the chassis name switching from Lotus to that of the niche sportscar maker. <br /><br />Group Lotus-sponsored Renault will still be known as Lotus Renault GP but the chassis designation will switch from Renault to Lotus. <br /><br />Virgin Racing will take the name of its major Russian shareholder as Marussia F1 team. The changes were agreed at a meeting of the Formula One commission, chaired by F1 supremo Bernie Ecclestone, at a meeting in Geneva on Thursday and details had already leaked out to the media. <br /><br />Team Lotus entered Formula One as Lotus Racing last season but then fell out with Group Lotus and their parent company Proton.<br /></p>