New Caterham Project V electric sports car edges closer to reality
Revealed as a concept in 2023, the electric coupe will feature a Yamaha-developed drivetrain
It’s been more than two years since the Caterham Project V concept was unveiled and we’ve not heard anything about the all-electric sports car for a while. But not only is the project still alive, the first functional prototype will be presented on 9 January 2026 at the Tokyo Auto Salon.
Caterham is currently using the prototype to evaluate the durability of the chassis, the drivetrain created by Yamaha Motor, and the cell-to-pack battery system, which uses cells immersed in a dielectric liquid for rapid heat dissipation and optimum cooling.
Kazuho Takahashi, who became CEO of Caterham in November – and is also the founder and president of the Japanese retail group VT Holdings, which acquired the British sports car maker in 2021 – said the prototype’s debut “is a significant milestone in the development of Project V”.
He added, “This next step enables us to begin a comprehensive vehicle testing program in collaboration with our technical partners. Our objective remains unchanged: to realise our vision of a pure-electric sports car that embodies the unmistakable DNA of a Caterham.”
The goal was for development of the Project V to be completed by the middle of 2025 and production to begin either before the end of this year, or in early 2026. However, we suspect the car will now arrive in 2027, at the earliest.
What do we know about the Caterham Project V so far?
There have been periods in the past when Caterham has dabbled with the idea of models other than its iconic Seven, such as the 21 of the nineties, and the stillborn mid-engined C120 sports car that was to share its make-up with the Alpine A110.
The Caterham Project V was created by British designer Anthony Jannarelly, with Yamaha supplying the powertrain. The firm is serious about the car as a road-going machine, although that Project V name is likely to be just a working title.
The concept car was powered by a 55kWh battery, but the production version using Yamaha e-axle tech will have two battery packs, one in front of the rear axle and a second under the front footwells. The powertrain will be installed in a lightweight chassis made from carbon fibre, glass fibre and aluminium composite, featuring double-wishbone suspension with fully adjustable geometry all-round. Caterham is aiming for a kerbweight of just 1,190kg.
This relatively low weight compared with many other EVs means the battery will provide a target range of 249 miles and feed a 268bhp rear-mounted motor for a projected 0-62mph time of 4.5 seconds. Rapid charging at up to 150kW means a 20 to 80 per cent top-up will take as little as 15 minutes, so it’s clear Caterham has an eye on track work when it comes to the Project V’s intended use.
“Project V is not just a concept or design study,” said former Caterham CEO Bob Laishley, adding: “We’ve conducted engineering and production feasibility throughout the development process.
“An electric Caterham of any shape and size has to stay true to what sets us apart from everyone else: being lightweight, simple and offering an unparalleled driving experience; that’s our DNA.”
Caterham Project V design and interior
When it comes to the car's design, Jannarelly outlined that “a Caterham Seven’s design is simple and minimalist, it’s designed for its intended function, to be lightweight and fun to drive. With Project V, we’re applying this philosophy to the sports coupe architecture to create a seducing and timeless silhouette. Every single feature has to justify itself from a weight perspective to maintain lightness and optimise driver engagement.”
This extends inside as well. The Project V show car features a 2+1 seating layout, although we’ve been told a 2+2 configuration will be optional on the production version. Caterham says the 2+1 set-up means getting in and out is easier, while there's more space in the rear for the single passenger, making Project V a more usable machine than some other small sports coupes.
The interior is focused on the driver, with a simple instrument readout that includes key info. Smartphone mirroring will also be included, while the V offers three drive modes to choose from: Normal, Sport and Sprint. These settings adjust the steering weight and throttle response/acceleration for different driving environments, says Caterham.
According to Laishley: “Project V isn’t instead of Seven, it’s complementary to it, and we believe that by retaining the core Caterham values, it will both appeal to our existing customer base and attract new fans to the brand.”
The British firm recently revealed its Seven EV concept, a zero-emissions version of its iconic two-seater sports car, carrying it through into the modern era. The brand's former boss believed there's room in the range for another model too, and that “by using a more practical coupe bodystyle and by exploiting the packaging benefits of an electric car, this is a car that works as well for trips to the shops, or the school run, as it does for Sunday morning sprints.”
Caterham has suggested that the eventual road-going Project V could cost less than £80,000, which would put it in the same price bracket as the petrol-powered Alpine A110 and Lotus Emira.
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