2012 Lotus F1 Team team photograph
2012 Lotus F1 Team team photograph

Photo by: XPB Images

Jan.25 (GMM) Lotus is yet to sign a title sponsorship deal with Honeywell, the American technology giant.

Last month, it emerged that the Enstone based team was close to a $30 million per year deal with Honeywell, hot on the heels of Lotus' high profile signing of a sponsor deal with Coca-Cola brand Burn.

But Switzerland's Speed Week now reports that the Honeywell deal is "still a way off".

Team boss Eric Boullier is quoted as agreeing: "There is still nothing signed."

Lotus is scheduled to launch its 2013 car, the Renault-powered E21, on Monday.