Langkawi, 3 December 2009: 1Malaysia Racing Team Sdn Bhd (1MRT), the parent company of Lotus F1 Racing team, today signed a Memorandum of Understanding (MoU) with Composites Technology Research Malaysia (CTRM) for the latter to undertake research and development (R&D) that includes the manufacturing of components for the Lotus F1 cars.
1MRT is primarily involved in the engineering and assembling of Lotus F1 cars. With this collaboration, CTRM will be offering its technology and expertise in composites manufacturing to 1MRT and the Lotus F1 Racing.
CTRM CEO, Datuk Rosdi Mahmud and Lotus F1 Racing CEO, Riad Asmat signed for their respective companies. The signing, held on the sideline of the Langkawi International Maritime and Aerospace Exhibition (LIMA) 2009 here, was witnessed by the Deputy Prime Minister of Malaysia, YAB Tan Sri Dato’ Haji Muhyiddin Yassin. Also present were 1MRT Principal, Dato’ Sri Tony Fernandes and CTRM Chairman, YBhg Datuk Wira Syed Ali Tan Sri Syed Abbas AlHabshee.
Datuk Rosdi said: “CTRM is proud to be collaborating with 1MRT and Lotus F1 Racing and we are excited to see Malaysian-built cars on the race tracks next year. This collaboration will certainly enhance our strategic role to develop high technology-based industry in Malaysia, namely the aerospace and composites industry, and now motorsports.”
1MRT Principal Dato’ Sri Tony Fernandes commented: “We are thrilled to embark on this exciting partnership with CTRM, a company that has proven that Malaysians truly have what it takes to be competitive on the world stage. I am sure this collaboration will see both Malaysian companies benefit via technology and expertise transfer.”
Riad explained: “This MOU will facilitate negotiation and discussion between 1MRT and CTRM on matters relating to the collaborative research and development. Lotus F1 Racing has reached many important milestones in preparation for our debut in the FIA Formula 1 World Championship in 2010, with the car having successfully passed our own strict internal crash tests recently. The collaboration between Lotus F1 Racing and CTRM will be a further boost for Lotus F1 Racing’s ongoing technical development and technology transfer to Malaysia.”
Lotus F1 Racing is one step closer towards achieving its target of becoming the best among new teams next season when its cars are placed 18th and 19th – the best positions among the new teams – in the full entry list of constructors and drivers as announced by the FIA on 30 November. The team are still in talks with potential drivers and will make an announcement soon.
Announced by the Prime Minister of Malaysia YAB Dato’ Sri Mohd Najib Tun Abdul Razak in September 2009, Lotus F1 Racing will be one the new additions to the FIA Formula 1 World Championship in 2010 and will bring the legendary Lotus name back into Formula 1 for the first time in over 15 years.
Lotus F1 Racing will be flying the Malaysian flag in the championship with full support from the Malaysian Government and its 1Malaysia initiative. The team is fully financed by Malaysian entrepreneurs, which gives the team a strong Malaysian character throughout all areas of its operation.