The Lotus Formula 1 team has managed to wipe just over £56 million [$84.5m] from its debts for 2014.Following a protracted period of negotiations and due diligence regarding Renault's takeover, with principal contracts finally signed last week, the team is finally due to submit its 2014 accounts to Companies House...

Pastor Maldonado has been warned by Lotus that his Formula 1 seat is not guaranteed despite the considerable financial support he receives from PDVSA.Venezuela's state-owned oil and gas company has backed Maldonado throughout his career, following the 30-year-old from Williams to Lotus after he left the former team at the...

Romain Grosjean said the Chinese Grand Prix was a "breakthrough" for Lotus after he scored the Formula 1 team's first points of the 2015 campaign, and his first in 11 months.The Frenchman had said he wished he could "delete" 2014 from his racing career, having scored points just twice (in...

Lotus Formula 1 driver Pastor Maldonado is pleasantly surprised by how close the pack behind Mercedes is, and by his car's pace relative to those currently fighting for the podium.The Venezuelan and teammate Romain Grosjean proved that Lotus has taken a step forward when both cars qualified in the top...

GP3 racer Carmen Jorda has secured a development driver role with the Lotus Formula 1 team and will test its 2015 car. A team statement said the 26-year-old Spaniard would get "a significant simulator program" along with her run in the new E23 at some point this year."I've been racing...

Pastor Maldonado says the Lotus E23 is a completely different car compared to its troubled predecessor, following the 2015 machine's first day of testing.Maldonado drove the Mercedes-powered E23 for the first time at Jerez on Monday, completing 41 laps before stopping on track with a gearbox problem. Despite the team...

Related StoriesSebastian Vettel topped Formula 1 pre-season testing at Jerez for the second day running in the Ferrari SF15-T.The four-time world champion set several laps faster than anyone else during two medium-tire runs in the morning, and his position at the top of the times was safe once a rain...

Lotus's 2015 Formula 1 car finally appeared in public for the first time in pre-season testing at Jerez on Monday.The new Mercedes-powered E23 only left the team's Enstone, UK factory on Sunday afternoon, following a decision to build the car up as late as possible. The team had anticipated that...

Related StoriesSebastian Vettel set the pace on the second morning of Formula 1 testing at Jerez, going faster than his day one-topping time for Ferrari.The former Red Bull driver set a sequence of laps quick enough for top spot during run of seven flying laps on medium tires just after...

Lotus expects its E23 2015 Formula 1 car to complete its first proper running on day three of the first pre-season test at Jerez this week.The team missed the opening day's running on Sunday as its car was en route to Spain from its Enstone, UK base. While the E23...