The Caterham Group, parent company of the Caterham F1 Team, has sold its stake in the Alpine car program back to Renault.
The Caterham Group entered into a joint venture partnership with Renault to create the Société des Automobiles Alpine Caterham, a program to relaunch the famous Renault Alpine as a new supercar.
Aside from showcasing a beautiful prototype version at last year’s Monaco Grand Prix, little else has been heard or seen, although the car is still set for a 2016 launch, however that will now be entirely under Renault’s control.
“Renault will now continue to develop its own Alpine sports car to be launched in 2016, as initially planned. Caterham Group also plans to continue with its own sports car,” a statement from the Caterham Group reads.
The announcement comes just weeks after the Caterham Group’s chairmen, Tony Fernandes and Datuk Kamarudin Meranun, issued a joint statement denying that the company was on the market.
The denial came in the wake of speculation that Fernandes was looking to offload his underperforming F1 team to an interested buyer, for a rumoured $350 million price tag.
Few believed the denial then – it was worded in such a way that the Group’s subsidiary companies could clearly still be sold off – and even fewer will continue to swallow the denial now.
If Fernandes can offload the Formula 1 team, he will.
Image via Sutton Images