Cosworth and Lotus have today signed the termination of Lotus Racing's engine supply agreement following completion of the deal which was established in principle and announced following the 2010 Italian Grand Prix. Cosworth's support for Lotus Racing will cease at midnight on 30th November 2010.
The decision to bring the partnership to an early termination has been driven by Lotus desire to solve reliability and performance issues unrelated to the Cosworth engine. Lotus Racing and Cosworth have agreed settlement terms satisfactory to both parties to secure an early termination of the agreement.
It was widely expected that Lotus, currently embroiled in a row over the naming rights of the team, would announce a deal with Renault in Singapore but this was not forthcoming.
Cosworth will continue to supply engines to Williams, Virgin and HRT in 2011, thereby supporting 25% of the teams on the grid.