Group Lotus says that F1 sponsorship deal has no link to group’s future.

Recently, Group Lotus clarified that the end of the Formula 1 sponsorship deal with Lotus F1 Team will have no effect on its future.It may be noted that Proton, parent company of Lotus, was recently acquired by DRB-Hicom- a Malaysian Firm. Owing to this development, there lies a big question mark over the future of Group Lotus. Only yesterday, it was revealed by www.autosport.com that the sponsorship deal between Lotus F1 and Formula 1 is headed towards its end.However, a spokesperson for Group Lotus clarified that the aforementioned deal wasn’t a financial arrangement and the end of it has nothing to do with the future of Group Lotus.

Group Lotus came out with the following statement: “Group Lotus and and Lotus F1 Team are brand partners, the F1 team uses the strength of the Lotus name to promote themselves, and in return Group Lotus benefits from F1 exposure and the ambassadorship of its drivers, and the deal is a non-cost one.”

via AUTOCAR UK

 

Category: News

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Yatharth is an automotive design student and a keen follower of the happenings in the Indian automotive industry. He has been handed the task of keeping you abreast with the action in the Indian motoring sphere on a daily basis. He skips his breakfasts and ditches his girlfriends for the noble job.

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