Once the new 49B/7 had been delivered to Walker, 49/2 returned to Team Lotus. Front and rear wings were fitted, but the early suspension, brakes and gearbox were retained. Jackie Oliver drove it in this configuration in the British GP on July 20Th.
Following the race 49/2 was completely updated to 49B specs, with the associated modifications to the monocoque, new suspension (forward sweeping) and steering, wider split rim wheels, 2 pot calipers rather than 4...and a Hewland gearbox which used a rear cross member to support the suspension rather than the original "Christmas Tree" frames and revised top ducted nose, radiator and oil tank arrangements.
Even the clutch pedal was changed to suit the gearbox.
The new car 49/B2 was ready in time for the German GP on August 4Th and Jackie Oliver would race it 6 times.
It was then rebuilt again and sold early in 69 to Pete Lovely as 49B/11. It would later be upgraded to 49C specs.