Image: Simon Galloway courtesy of Formula E
One of the most well-known names in British motorsport is poised to join FIA Formula E, potentially saving an existing team from missing out on a new powertrain deal.
Lola Cars is preparing to make its return to motorsport after a period of inactivity following its bankruptcy and closure in 2012. Till Bechtolsheimer, a British entrepreneur and former racing driver, has acquired the company’s name and remaining assets. According to a report by The Race, Bechtolsheimer has become an official Formula E manufacturer 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, who are in search of a new supplier after deciding to end their partnership with Mahindra at the end of the season. The team has been in discussions with existing manufacturers within Formula E but has been unable to reach an agreement thus far. Lola now appears to be the team’s best option for remaining on the grid.
Lola’s presence in Formula E has already begun, with former DS Techeetah boss Mark Preston representing the company in Formula E Teams and Manufacturers Association meetings.
Who is Lola?
Established in 1958 by Eric Broadley, Lola was a prolific producer of chassis for various racing series, ranging from junior formulae to rally. The company achieved its greatest successes in America, with many IndyCar/CART teams in the 1980s and 1990s utilizing Lola chassis.
Lola also had significant involvement in Formula 1, constructing cars for teams such as Embassy Hill, Team Haas (not connected to the current Haas outfit), and Larrousse. In 1994, Broadley made the decision to enter Formula 1 as a standalone works team. Scottish driver Allan McNish tested a prototype car for Lola over the following year.
The initial plan was for the team to join 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 primarily used for 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 It was powered by an outdated Ford V8 engine and did not undergo any testing or wind tunnel analysis before arriving in Australia for the first race.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, lagging behind the leaders by more than nine seconds per lap. Drivers Vincenzo Sospiri and Ricardo Rosset failed to qualify. MasterCard withdrew their sponsorship before the second race in Brazil, leading to Lola’s withdrawal from F1. Irish businessman Martin Birrane had to step in and acquire the company to save it from the approximately £6 million debt it accumulated during its F1 venture.
Birrane successfully rescued the Lola brand, allowing them to continue producing cars for various competitions, including endurance racing. There were even discussions about a potential return to Formula 1 for the 2010 season. However, ongoing financial difficulties eventually led to Lola going into administration and ceasing operations in 2012. Thanks to the partnership with Bechtolsheimer, Lola is now experiencing a second revival and reclaiming its status as a prominent name in top-tier motor racing.