Lotus became the latest Formula 1 team to launch its 2010 challenger, as the wraps officially came off the new car in London on Friday.
As revealed exclusively by AUTOSPORT's spy shot earlier this week, the new car - named T127 - carries the colours used by the legendary team back in the 1905s and 1960s.
The Lotus name is returning to Formula 1 this year after having quit the sport at the end of the 1994 season. The team is now owned by Malaysian businessman Tony Fernandes.
"Words cannot express how I feel today," said Fernandes. "It is an amazing job to get an F1 licence, have five people in Hingham and turn up today with this car.
"I was thrilled when Clive [Chapman] said that this was just like te beginning of Lotus back in the early days."
He added: "We know we have a huge burden on our shoulers, standing on the shoulder of giants - Clark, Moss, Hill, and Mansell. We know we have a tremendous journey in front of us, we are honoured and cherished to be a part of history - we will leave no stone unturned in our efforts and we will do our best to return Lotus to its glory days."
The new car was shaken down at the Silverstone circuit earlier this week and the team is scheduled to begin testing at the Jerez circuit alongside rivals from next week.
Jarno Trulli and Heikki Kovalainen will be the man in charge of racing the Lotus cars this year.
Lotus is the second new team to complete and launch its car ahead of the start of the 2010 season. Technical chief Mike Gascoyne said Lotus is aiming to do a professional job this year.
"We are looking in really good shape," Gascoyne told AUTOSPORT earlier this week. "We have to improve the pace of our car and the results from wind tunnel, but that will come with time.
"Our first aim was to be on the grid - to be a professional team where everything is to be F1 standard. We definitely will do that. The team will look good and step one has been achieved."
Lotus's technical chief Mike Gascoyne says he is extremely proud of his team after it unveiled its new car in London. The Lotus T127 was officially launched on Friday, culminating just a few months of very hard work from the team which gained an entry to race in Formula 1 later than the rest of the new squads.
Gascoyne admitted it was a very special moment for him and thanked team owner Tony Fernandes for his trust.
"The launch of the car is a very proud moment for the design team and the whole team," said Gascoyne. "This one is very special for me personally for two reasons - firstly the Lotus name coming back into F1 is something very special.
"I grew up in Norfolk, went to school five miles down the road from he original factory. I grew up in era when Lotus was winning races and championships, so the opportunity to work with this team is very special. But also it is the challenge of bringing a new team and a new car into F1 in such a short space of time.
"What this is about for me, and it is the first launch I have been to where whole team is here, there is a fantastic buzz about this place, the whole team has given heart and soul to this project. I want to thank Tony on behalf of the whole team to have the courage to back us and trust us.
"We have a fantastic driver line-up who have put faith in whole design team. I am proud to be up here on stage as a representative of that team, they have done a fantastic job."
Italian Jarno Trulli, who was the first driver to be confirmed at Lotus, said he was fired up to tackle the challenge of making the team successful.
"It is a very emotional moment for me - it will be great to take Lotus back on track where Lotus belongs and I think we have a big challenge, but it is what we are aiming for. I am really fired up for it," he said.
Trulli will be partnered by Heikki Kovalainen, who has joined Lotus after two years at McLaren.
Kovalainen said: "It has been a fantastic effort from the whole team and when I went to see Mike and Tony for the first time, there were four people at the reception, I said to them 'Are you sure it will happen before Bahrain?' And they said fine. I cannot wait until next week when we start driving it and get down to business."