Caterham acquired by Team Lotus

Motor company Caterham Cars has been acquired by Team Lotus Enterprise (TLE), it has been announced.

The Surrey-based sports car manufacturer plans to build 50 models of a new special edition Seven to celebrate the new ownership under the company behind the Team Lotus Formula One squad.

The purchase will mean a possible expansion of Caterham's product line-up.

The Caterham Seven was made famous by the 1960's cult TV show The Prisoner, in which actor Patrick McGoohan drove a green-and-yellow model.

Ansar Ali, who is set to carry on as Caterham's managing director, said: "This is yet another exciting chapter in the Caterham story.

"Until now, the resources Caterham has had at its disposal have, naturally, limited the exposure of the Caterham experience and the legendary Seven has had to rely almost entirely on its remarkable reputation and legacy."

He added: "The acquisition of the company will allow our existing management team to take Caterham's core spirit of pure driving enjoyment to a hitherto un-served audience.

"While the Seven will now have the global springboard it deserves and will continue to be evolved yet further, we also have the opportunity to expand the Caterham family beyond the Seven and SP/300R and breathe new life into our uniquely respected brand and mature it into a truly global business."

Copyright © Press Association 2011