British specialist sports-car maker Caterham and French automaker Renault have announced plans to develop affordable race cars for introduction by 2016, Reuters has reported. The new vehicles will be built at a Renault plant in Dieppe, northern France, in a partnership with Caterham Cars and its Formula One team, the two companies said. The vehicles will put race car engineering within reach of more customers than current Formula One-derived offerings from rivals, Caterham chairman Tony Fernandes and Renault chief executive Carlos Ghosn said at a joint news conference. "If you look at Formula One, there's only Ferrari and McLaren, which are extremely expensive," Fernandes said. "We'll produce a car that many more people can afford with F1 technology."