Group Lotus CEO Dany Bahar has hinted that the company could look to increase its shareholding in the newly re-branded Lotus Renault GP team.

Group Lotus entered into partnership with Renault F1 owners Genii Capital earlier this week, taking a shareholding in the team and also securing naming rights until the end of the 2017 campaign.

However, in an interview with the Telegraph, Bahar refused to rule out the possibility of increasing its involvement in future even if the current view is to simply take things on a step-by-step basis.

"Before we started talking about F1, we were talking about lots of other collaborations," he said. "F1 was the last thing that came up. I hesitate to say last-minute but in the last few months or so. From that perspective, yes, it is interesting to talk about control and shares and all that, but for us as a car manufacturer the bigger picture is far, far more relevant than just F1.

"Group Lotus now has a new plan in place, new people in place set up for our future journey. We are busy delivering those targets rather than taking another hassle on [running the F1 team]. We are very, very aware that F1 is an evolving adventure. It can change in the future. Let's concentrate on today and tomorrow let's see what happens."

Genii boss Gerard Lopez added that F1 deal was only part of the agreement reached between the two parties.

"The way I would describe it, the F1 relationship is really an extension of everything else that has been discussed and is being built up," he said. "I would almost see it as the tip of the iceberg."