Simplify the following text for a Grade 7 native English-speaking person.
Original: In 2002 , Ã lan Motorsport Technologies bought G Force , and the chassis was re-named `` Panoz G Force '' , and then shortened to `` Panoz '' in 2005 .
Simplified: In 2002 , Ã lan Motorsport Technologies bought G Force , . The chassis was re-named Panoz G Force , and then shortened to Panoz in 2005 .