FIA approves name changes for three F1 teams

Paris: The International Automobile Federation (FIA) has confirmed that three Formula One teams - Team Lotus, Renault and Virgin Racing - will be changing their names for the 2012 season .

Team Lotus, which has India's Karun Chandhok as its reserve driver, will now be called the Caterham F1 team. The team has a Malaysian owner in Tony Fernandes.

The Britain-based Renault team will become Lotus, with their full name remaining Lotus Renault GP.

Richard Branson's Virgin Racing will become Marussia F1 team.