F1 racing will see a new team name on the grid next season, the 'Caterham F1 Team', bringing the Caterham name to an exciting world stage viewed by millions. The Malaysian consortium that owns Caterham Cars and known in F1 since 2010 as 'Team Lotus', has reached an amicable agreement in the courts following a dispute with car company Group Lotus over the use of the Lotus name. The result is that from next season, the name 'Team Lotus' will change to 'Caterham F1 Team'. Renault will be the only team associated with Lotus so the name of the Lotus-Renault team will change to 'Lotus'.