Sources say Tony Fernandes is buying Kent-based sports car firm

Caterham is being sold to the Team Lotus concern owned by AirAsia entrepreneur Tony Fernandes, according to well placed sources.

The Kent-based sports car company - which is run by former Lotus executive Ansar Ali and owned by private equity firm Corven Ventures - is said to have struck a deal with the Malaysian that will bring fresh investment and ambitious product plans.

The deal is set to be announced next Wednesday, when Team Lotus is holding an event at Duxford airfield. It’s meant to be an F1-related activity, but the invitation says it will include “an incredibly exciting announcement about the future of our team”.

Fernandes is currently embroiled in a court battle with Lotus Cars over the use of the name in Formula One. Buying Caterham could give him a potential alternative brand to market - although Autocar sources insist that no decision has been made on whether Caterham branding will appear on F1 cars in the foreseeable future.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Car review
    23 September 2016
    Aston kicks off its ‘second century plan’ with an all-new turbo V12 grand tourer
  • Ford Ka+ 1.2 Ti-VCT 85
    First Drive
    22 September 2016
    A rounded, refined and well-sorted bargain supermini – once you’re used to the confusing role redefinition imposed on the once-cheeky Ka
  •  Maserati Ghibli Diesel
    First Drive
    22 September 2016
    Maserati releases another range of updates for its range best seller, the Ghibli. We've driven the diesel version, but there's little improvement on before
  • Tipo Front
    First Drive
    21 September 2016
    New Fiat Tipo offers impressive space and practicality for a reasonable price. We try the 1.6 diesel on the demanding roads of North Wales
  • Seat Ateca 1.4 TSI 150
    First Drive
    20 September 2016
    The Seat Ateca 1.4 TSI 150 makes perfect sense: it's spacious, tidy to drive for an SUV and cheap to run