Hingham, Norfolk, England – British sports car company Caterham Cars has been purchased by Team Lotus Enterprise, which said it will see the company “expand its brand profile and product family.”

Tony Fernandes, Kamarudin Meranun and SM Nasarudin, the men behind the Team Lotus Formula 1 squad, acquired the company from a shareholder consortium led by Corven Ventures. Team Lotus intends to continue development of the Caterham Seven and provide a platform for new models.

Under Caterham since 1973, the two-seater Seven has evolved from a vehicle originally conceived as a “fit for purpose” race car by Colin Chapman in 1957.

“Caterham has a unique place at the heart of the motoring world,” said Tony Fernandes. “As well as being proudly and staunchly British, it has an enviable and uniquely unblemished reputation within the industry for performance, handling and engineering excellence.

“Caterham Cars has remained wholly faithfully to Colin Chapman’s philosophy of ‘less is more,’ and the DNA of the original Seven can still be traced to the newest additions to Caterham’s product offering. It is already a successful business with sales across Europe, Japan, Australia and the Middle East, and under the guidance of the existing management team, we now have all the ingredients and the launch pad to further evolve that spirit and take Caterham to new exciting horizons with innovative products and greater global brand exposure.”

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