Lotus, with Italian Jarno Trulli, Finland's Heikki Kovalainen and principal Tony Fernandes, have the best credentials going into the season, which opens on March 27.
Both drivers are previous race winners and Malaysian Fernandes, a successful entrepreneur with his AirAsia airline, has put money into the team.
Having ditched the Cosworth engine for the same Renault unit used by champions Red Bull, and taken on the latter's gearbox, Lotus are now looking to challenge seriously for points.
"We always said that this year for us was all about moving into the midfield and that's what we are very determined to do," said technical head Mike Gascoyne.
"It's very clear. We absolutely have to be racing the second division of the established teams -- Toro Rosso, Sauber, Force India...and that's a big ask after being in existence as a Formula One team for only 18 months.
"But one thing that would be great for Formula One is the message that you can do that, because it shows you can come in as a small team from scratch with a sensible budget," added Gascoyne, whose team will also be battling in court later this month against Malaysian-owned carmaker Lotus Group, now sponsoring Renault, over naming rights.
Lotus F1 Formula One driver Heikki Kovalainen of Finland in action
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