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Lotus F1 Team is a British Formula One racing team. The team has competed under the Lotus name since 2012, following the renaming of the former Renault team based at Enstone in Oxfordshire.Lotus F1 Team is owned by Luxembourg-based venture capital group Genii Capital.Lotus F1 Team is named after its branding partner Group Lotus. The team achieved a race victory and fourth position in the Formula One Constructors' World Championship in their first season under the Lotus title.ince 2011, Lotus Cars became involved with the team and the team was renamed, first to  Lotus Renault GP  for 2011 season, and then to Lotus F1 Team for 2012 season.
In the late sixties and early seventies, Gulf had a hugely successful partnership with Bruce McLaren's team in the fields of Can-Am, Indy cars and Formula One. This liaison produced numerous victories and championships and was resurrected in 1995 when Gulf Oil returned to a racing partnership with McLaren and the privately owned race team of Ray Bellm. For three years the Gulf McLaren F1 GTR was dominant, winning 1996 BPR Global Endurance Series and the GT Class at Le Mans in 1997.