Lotus has announced General Electric as a new sponsor and technology partner.
GE branding will appear on the cars from the British Grand Prix onwards and, according to a press release, the new deal will provide the team "with leading edge technological, RD and manufacturing resources that will help accelerate the team's progress, on and off track."
Team principal Tony Fernandes explained the deal in more depth.
"On behalf of the whole team I am very proud to welcome GE into the Team Lotus family," he said. "It is a resounding endorsement of the remarkable development of our team that we have unveiled a partnership of this significance with one of the world's most eminent organisations.
"We are already exploring a number of initiatives that will bring the GE / Team Lotus relationship to life across the spectrum of GE's interests, from future automotive electrification technologies, materials sciences, design processes and core engineering competencies to the showcasing of GE's world class e-infrastructure capabilities throughout the global business and government communities in race and non-race markets alike.
"In short, we have a huge array of platforms to work across driven by passionate people in both organisations who can't wait to put their collective imagination to work."
Jeff Immelt, Chairman and CEO for GE added: "We are excited to sponsor Team Lotus and continue our relationship with Tony Fernandes. We have worked with Tony for many years and know his commitment to the aviation business. The global appeal and popularity of Formula One provides a unique opportunity for GE and we look forward to great things from Tony again as we become part of his team."
GE is an advanced technology, services and finance company that works in more than 100 worldwide.
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