Paris: Indian Formula One driver Karun Chandhok`s team from 2012 season will be known as Caterham and not as Lotus since the world body of motorsports, FIA has approved the change in name for three sides.
Chandhok is part of the Malaysia-based team as a reserve driver and did not get the chance to race in the just-concluded inaugural Indian Grand Prix.
Air Asia owner Tony Fernandes is the Team Principal.
The name Lotus will now be used by Renault, which was earlier known as Lotus Renault. Since Renault has ended the association with the team thus the F1 side requested for a name change.
The third team to get a new name is Virgin, which will be known as Marussia from the 2012 season.
The name change decisions were discussed at F1 Commission meeting in Geneva on Thursday and approved by FIA yesterday.