After seeing out his three-year contract at March, Peterson joined Colin Chapman's Team Lotus in the 1973 season, partnering defending champion Emerson Fittipaldi. During his first two seasons with Lotus, Peterson took seven victories, scoring a career-best 52 points in 1973. After a poor 1975 season, Peterson moved back to March and scored his final victory for the team at the 1976 Italian Grand Prix. After spending the 1977 season with Tyrrell, he moved back to Lotus for the 1978 season as number two driver to Mario Andretti. Peterson scored two wins, at the South African and Austrian Grand Prix races, and finished second in the Drivers' Championship standings despite his fatal first-lap accident at Monza during the Italian Grand Prix.