Supercar maker Marussia Motors has taken a ‘significant shareholding’ in Virgin Racing.
The team will be known as Marussia Virgin Racing in 2011 as the Russian company tries to increase its profile internationally.
Marussia boss Nikolay Fomenko said: “This is the realisation of a dream for Marussia Motors. While manufacturing, launching and marketing the Marussia B1, B2 and other concepts in Europe we will have an F1 team to promote these activities and demonstrate to the world that a new car manufacturer has arrived from Russia with truly international ambitions.”
Marussia was founded in 2007 by Fomenko, a TV presenter and sometime racing driver. It has not yet delivered any cars to customers but show appearances have attracted attention.