Caterham Creates Separate Company to Fund Project V Electric Coupé

Caterham has announced the creation of a separate company, Caterham Evo, to finance its upcoming electric coupé, Project V. CEO Bob Laishley revealed this information during an interview on Autocar’s My Week In Cars podcast.

Separate Funding for Project V

Laishley explained that the development of Project V, set to be unveiled in 2026, requires significant funding beyond the profits generated from selling Caterham Sevens. To secure the necessary financial resources, Caterham Evo was established with the support of investors.

Laishley stated, “That [money] will need to come from within the group or external funding. It’s significantly tens of millions above what we would invest in developing new Sevens, for example.”

Progressing Development

Despite the financial challenges, Laishley assured that the development of Project V is progressing. He mentioned that the project is moving forward, and prototypes are expected to be produced in the near future. While he did not provide specific details, he confirmed that the electric sports coupé will be unveiled at a later date.

It’s worth noting that Project V will not be manufactured at Caterham’s new facility in Dartford, Kent.

Continued Development of the Seven

In addition to Project V, Caterham is also focused on the ongoing development of the Seven. With Ford discontinuing its 1.6-litre Sigma and 2.0-litre Duratec engines, Caterham is actively seeking a new engine partner. Laishley mentioned that they have a shortlist of interested manufacturers and plan to equip the Seven with a new powertrain for the next decade.

Laishley emphasized that Project V and the Seven are separate entities, with Project V offering higher production volume and greater consistency between models. The electric coupé represents a new direction for Caterham and is expected to be a game-changer in the automotive industry.