Iconic motorsport brand Lola Cars has announced it is now under the ownership of USA-based Englishman Till Bechtolsheimer, who intends for the company to once again become a producer of racing cars bearing the Lola name.
With the completion of the transaction, Lola Cars now controls all the assets of a brand that has designed and produced nearly 5,000 race cars spanning 400 different model types, gaining success in motorsport championships around the world including IndyCar, Le Mans, Formula 1, Formula 3000, Formula 5000, A1GP and Touring Cars.
New owner Bechtolsheimer is an active racer in both IMSA sportscars and other disciplines, and is also the founder of New York-based investment firm Arosa Capital. He explained that the opportunity to acquire and steer one of motorsport’s most iconic marques was one too good to waste: “I have had a lifelong passion for motorsport and, like most motorsport fans, have always loved the Lola brand. What both Eric Broadley and Martin Birrane achieved with Lola is awe inspiring. It is a daunting but exciting prospect to try and rebuild Lola in their footsteps and do justice to their legacy.”
Amanda Birrane, chairman of Peer Group, the Birrane family property company based in London, said, “My family is very pleased that the Lola brand is in the ownership of a businessman and racer who will write the next chapter for this long-established British motor racing icon. My father would be delighted to see Lola back in competitive motorsport and especially back at Le Mans. We wish Till every success.”
Bechtolsheimer outlined what is ahead for Lola Cars: “Our plan is to re-establish Lola as a leading design and engineering force in modern motorsport. I have built a career investing in energy efficiency and see motorsport playing a significant role in the innovation and testing of new solutions. Through Lola, we hope to develop and provide investment for some of these solutions.
“I have a huge amount of respect for the industry and understand that this will be a long process. We have immediate plans for substantial upgrades to the Lola Technical Centre, in particular the wind tunnel, and are actively working toward our first project to put new Lolas back on track. I firmly believe that our biggest asset is the Lola name and what it means to so many in the motorsport industry; it will help us to attract great talent and form lasting partnerships.”
More details of Lola’s initial projects will be announced in the near future.