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Lotus F1 Racing was granted its entry into the 2010 Formula 1 World Championship by the sport's governing body, the FIA, in September 2009. The decision sees the return of one of Formula 1's most iconic and legendary names to Grand Prix racing.
Although Lotus F1 Racing is a new entity with a distinct Malaysian character, the team says it aims to respect the esteemed Lotus name, which remains one of the most successful in Formula 1 history.
Lotus is contesting the Formula One World Championship with full support from the Malaysian government and its 1Malaysia initiative. The team is fully financed by Malaysian entrepreneurs which gives the it a strong Malaysian character throughout all areas of its operation.
The team's top management is headed up by AirAsia founder and CEO Tony Fernandes in his role as Team Principal and Malaysian Riad Asmat, in the position of Chief Executive Officer.
Mike Gascoyne, who has previously worked for McLaren, Tyrrell, Jordan, Renault and Toyota, oversees all technical development for the team in his position as Chief Technical Officer.
On December 14, at a ceremony attended by Malaysian Prime Minister Dato' Sri Najib Tun Razak in Kuala Lumpur, the team announced a line-up that includes Jarno Trulli, Heikki Kovalainen and Fairuz Fauzy.
"It is a reflection of the determination and status of Lotus F1 Racing to return to Formula 1 that they have hired two race winning drivers for their debut season," said the team at the time.
Over the last couple of seasons Trulli has proved he still has it even if his remains frustratingly inconsistent. Kovalainen, though he clearly has pace, remains a mystery having failed to really make an impact with either Renault or McLaren. That said, Lotus, with its distinct Malaysian feel and approach, might be just what the Finn needs at this stage in his career.
While the inclusion of Fauzy might be seen by some as a move to appease the locals, there is no doubt that the boy has talent. His presence is sure to keep both Jarno and Heikki on their toes this year.
Much like Richard Branson at Virgin, Fernandes clearly likes to get his face in front of the cameras as often as possible, keen to share every last word of wisdom with us all. However, unlike Branson he is actually prepared to back up his words with money.
From most of what we've seen thus far, Lotus F1 appears to be the most credible of the new teams coming into F1 in 2010 and could well pull a few surprises. On the other hand we wish they'd chosen another name for in reality it has nothing in common with Colin Chapman's iconic team.
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