As part of the partnership, the GE branding will be seen on the Team Lotus T128 F1 cars and across the team's entire race and factory structure from the British Grand Prix in July 2011.

The partnership with GE provides extensive brand and business benefits to both parties, giving GE a high-profile global platform to showcase advanced technologies and providing Team Lotus with leading edge technological, R&D and manufacturing resources that will help accelerate the team's progress, on and off track.

Tony Fernandes, Team Lotus Team Principal, said: "On behalf of the whole team I am very proud to welcome GE into the Team Lotus family. It is a resounding endorsement of the remarkable development of our team that we have unveiled a partnership of this significance with one of the world's most eminent organisations. We are already exploring a number of initiatives that will bring the GE / Team Lotus relationship to life across the spectrum of GE's interests, from future automotive electrification technologies, materials sciences, design processes and core engineering competencies to the showcasing of GE's world class e-infrastructure capabilities throughout the global business and government communities in race and non-race markets alike. In short, we have a huge array of platforms to work across driven by passionate people in both organisations who can't wait to put their collective imagination to work."

Said Jeff Immelt, Chairman and Chief Executive Officer for GE: "We are excited to sponsor Team Lotus and continue our relationship with Tony Fernandes. We have worked with Tony for many years and know his commitment to the aviation business. The global appeal and popularity of Formula 1 provides a unique opportunity for GE and we look forward to great things from Tony again as we become part of his team."

About GE

GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.