The companies plan to build models in large and small series. The objective for each company is to launch its own vehicle within the next three to four years.

The new vehicles will be built at the Renault Alpine plant in Dieppe, Normandy, in France. This plant, built in 1969, is the home of the Alpine brand, which gave birth to such models as the Berlinette.

"Our ambitions of reviving Alpine depended on our ability to find a partner in order to ensure the economic profitability of such an adventure. Right from the start, we wanted to place the Dieppe plant at the heart of the project. Today, through our partnership with Caterham Group, we can enter a new phase: the design of a vehicle that will embody the very essence of Alpine, a vehicle that will rekindle sporting passion once more. It could become a reality within the next three or four years."

Carlos Tavares, COO, Renault

The Caterham Group will own a 50% stake in the Automobiles Alpine Renault company, currently 100% held by Renault SAS. The Société des Automobiles Alpine Caterham, which will result from this partnership, will be created in January 2013.

"Formula 1 was always our entry point into the car business," says Kamarudin Meranun, Caterham Group Deputy Chairman.

"Our original plans to develop a partnership with Lotus were put aside in spectacular and well documented style, but now we have a far better chance to develop Caterham Cars in partnership with Renault, working with Caterham Technology who are also integrally involved in this new venture. Our F1 team has already been working successfully with Renault Sport F1 since the start of the 2011 F1 season and I am thrilled that now we are adding to our track partnership by joining forces with Renault on the road. Together with Renault we have now created an opportunity for Caterham Cars to grow into the next stage of its development from a very well respected niche brand into a serious player on the global motoring map."

The UK-built iconic Seven to remain core product for Caterham Cars.