"Caterham Cars enters Formula One with Team Lotus" is what the press release says. What it actually means is that, from the British GP at Silverstone this weekend, the Caterham name will appear on the sides of Team Lotus cars (as per the picture).
The move "elevates Caterham into the pinnacle of world motorsport and provides a global springboard for its cars to be marketed in new and previously unreachable territories," (press release puff again). Because it doesn't, really - what it represents is the Caterham name appearing on the side of an F1 car.
It also represents the latest chapter in the Lotus F1 confusion saga. Now, the company which is nothing to do with Lotus cars, but which is called Team Lotus, is also sponsored by the company that produces what used to be the Lotus Seven. And which is owned by the same person (that's Tony Fernandes, who bought Caterham Cars back in April).
That's not to be confused with the other Lotus in F1, which is actually a Renault, and merely sponsored by Lotus Cars. Clear? Yup, as mud.
So it might seem like an odd fit, slapping the Caterham name onto an F1 - one might even call it a cynical marketing exercise - but we're opportunists here on PH. And if Caterham wants to push new driving talent through to Team Lotus F1, they could do worse than look at those who drove in Last year's Caterham Academy race series... (Riggers, they're not going to give you an F1 drive... Ed).