One of the most well-known brands in British motorsport is set to join the FIA Formula E, potentially saving an existing team from losing a new powertrain deal.
Lola Cars is gearing up to make a return to motorsport after a period of inactivity following its bankruptcy and closure in 2012. Till Bechtolsheimer, a British entrepreneur and former racing driver, acquired the company name and remaining assets. According to a report from The Race, Bechtolsheimer has become an official manufacturer for Formula E and has received a GEN3 test car. Lola will now enter Formula E as a powertrain supplier for another team.
This development presents an opportunity for ABT Cupra, which is in search of a new supplier after deciding to end its partnership with Mahindra at the end of the season. The team has been in discussions with existing manufacturers within Formula E, but has so far been unable to reach an agreement. Lola now appears to be the team’s best option to continue in the competition.
Lola’s presence in Formula E has already begun, with former DS Techeetah boss Mark Preston representing the company at Formula E Teams and Manufacturers Association meetings.
Who is Lola?
Founded in 1958 by Eric Broadley, Lola was a prolific producer of chassis for various racing series, from junior formulas to rally. The company achieved its greatest success in America, with many IndyCar/CART teams in the 1980s and 1990s using Lola chassis.
Lola also had a significant involvement in Formula 1, building cars for teams like Embassy Hill, Team Haas (not related to the current Haas team), and Larrousse. In 1994, Broadley decided to enter Formula 1 as an independent team. Scottish driver Allan McNish tested a Lola prototype car the following year.
The initial plan was for the team to enter Formula 1 in 1998 using their own internally developed engine. However, due to pressure from their main sponsor, MasterCard, they were forced to enter a year earlier. The car was hastily designed using technology mainly used in their Indy projects. It was powered by an outdated Ford V8 engine and did not undergo any testing or wind tunnel analysis before arriving in Australia for the first race. As expected, the car was not competitive, trailing the leaders by over nine seconds per lap. Drivers Vincenzo Sospiri and Ricardo Rosset failed to qualify. MasterCard withdrew its sponsorship before the second race in Brazil, leading to Lola’s withdrawal from F1. Irish businessman Martin Birrane had to intervene and acquire the company to save it from the approximately £6 million debt accumulated during its F1 venture.
Birrane successfully rescued the Lola brand, allowing them to continue producing cars for various competitions, including endurance races. There were even discussions about a possible return to Formula 1 for the 2010 season. However, ongoing financial difficulties eventually led Lola to go into administration and cease operations in 2012. Thanks to the partnership with Bechtolsheimer, Lola is now experiencing a second turnaround and regaining its status as a prominent name in high-level motorsport.
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