First Caterham Project V prototype to be shown in January

Caterham will show a near-production version of its first electric car on 9 January.

The first rolling prototype of the Project V sports car will be displayed at the upcoming Tokyo Auto Salon, marking a major milestone in its development. 

The company has been largely silent about the progress of the project since October last year, when it announced it had partnered with Yamaha for the car’s electric motors.

Caterham will now evaluate Yamaha’s rear-mounted electric motor, as well as the battery’s safety and performance and the durability of the car’s chassis.

“This next step enables us to complete a comprehensive vehicle testing programme,” said Caterham CEO Kazuho Takahashi.

Takahasi – who is also president and founder of Japanese firm VT Holdings, which acquired Caterham in 2021 – assumed control of the British sports car maker last month after previous CEO Bob Laishley stepped down.

The Project V was first shown in concept form at the 2023 Goodwood Festival of Speed. It was earmarked for a market launch in 2026 but, given testing is only now beginning, this seems unlikely.

It remains to be seen how substantially the car will have been altered from the concept unveiled two years ago. It was originally due to have 268bhp and a range of 249 miles at a cost of less than £80,000. However, while the technology available to Caterham’s mainstream rivals has drastically improved, the business case for electric sports cars has weakened significantly. 

Lotus, for instance, has yet to confirm when it will launch the Type 135, an electric sports car in the vein of the Emira, and has shifted its focus to launching a range of plug-in-hybrid models.