In a mostly expected move this week, Renault signed all the necessary paperwork to acquire the struggling Lotus team, thus ensuring that they will stick around for at least the 2016 Formula One season as a competitor for Mercedes and Ferrari. Renault will also be supplying engines to the Red Bull team.
Renault had previously owned the Lotus team but sold it in 2009 to Caterham.
Renault-Lotus will have Pastor Maldonado as their #1 driver in 2016, teamed alongside British rookie, Jolyon Palmer as the #2 driver.