Lotus has become the latest F1 team to reveal its 2015 Formula 1 contender, the E23 Hybrid, its first using Mercedes power.

Lotus, race winners in 2012 and 2013, endured a difficult 2014 as it struggled to bring its E22 up to speed, the English-based team suffering with persistent set-up woes and the deficiencies of the Renault power unit compared with its Mercedes rivals.

As such, though Lotus heads into the 2015 season with an unchanged driver line-up of Romain Grosjean and Pastor Maldonado, it has adopted a series of changes behind-the-scenes, not least the decision to swap to Mercedes power for the new season.

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As expected, it has also ditched its unusual 'dual-pronged' nose in favour of a more conventional one-piece design that bears a greater resemblance to the front-end of its cars prior to the 2014 regulation changes.

Having focused its efforts over the winter on its powerplant and the chassis, Lotus F1 CEO Matthew Carter believes the E23 Hybrid represents a 'huge step forward' and is confident it will return the team back towards the front of the grid.

"The E23 Hybrid represents a new era for Lotus F1 Team, not only in the change to a Mercedes Benz Power Unit, but also it is the fruition of a busy winter behind the scenes," he said. "Improvements within our Design, Aero and Simulation departments have all contributed to the development of a car which is a huge step forward.

"As a team we are confident that the new car coupled with additions to the Race team will enable a huge leap forward and we are full of optimism going into the new season.

"It is time to put the disappointment of last season behind us and benefit from 12 months of hard work; we are ready to return to our rightful place at the pinnacle of the sport."

Lotus finished fourth overall in 2012 and 2013, but could only muster 10 points and a best finish of eighth place in 2014, behind each of the Mercedes-powered teams.

The car will complete its first laps during the first F1 pre-season test in Jerez on February 1st.