Fernandes has confirmed he will lead Lotus’s return to F1 racing in 2010 and at the Motor Sport Business Forum in Monaco also stated that his number one intention is to beat Richard Branson’s Virgin team.
'I said that number one we have to be ahead of Branson, otherwise I will retire and kill myself,' said Fernandes.
'We think we are going to have a very reasonable car. We know we aren't going to be competing near the front in year one, but it takes time and we'll have a good basis for moving forward.'
Fernandes revealed that he will run Lotus on a budget of £55 million and he added that he couldn’t understand how some teams spend three times as much every year.
'Obviously at one stage we were ready to put a team out at £40 million because that's what we were told the cap was going to be,' said Fernandes.
'Obviously we're in favour of having less money to build a car but it's still exciting.
'I am still confused as to where all the extra money goes when you have a team with £150 million. I'm still trying to understand my £55 million.'
He continued: 'We have a licensing agreement with Lotus owner Proton and over time that relationship will grow.
'Lotus will probably buy into the team at some stage. More and more technology from our side will flow into Lotus cars and we will promote the Lotus brand.
'I see it in time being no different from how Ferrari works.'
'I said that number one we have to be ahead of Branson, otherwise I will retire and kill myself,' said Fernandes.
'We think we are going to have a very reasonable car. We know we aren't going to be competing near the front in year one, but it takes time and we'll have a good basis for moving forward.'
Fernandes revealed that he will run Lotus on a budget of £55 million and he added that he couldn’t understand how some teams spend three times as much every year.
'Obviously at one stage we were ready to put a team out at £40 million because that's what we were told the cap was going to be,' said Fernandes.
'Obviously we're in favour of having less money to build a car but it's still exciting.
'I am still confused as to where all the extra money goes when you have a team with £150 million. I'm still trying to understand my £55 million.'
He continued: 'We have a licensing agreement with Lotus owner Proton and over time that relationship will grow.
'Lotus will probably buy into the team at some stage. More and more technology from our side will flow into Lotus cars and we will promote the Lotus brand.
'I see it in time being no different from how Ferrari works.'
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