- Caterham still plans to launch its first fully electric coupe.
- A Project V prototype debuts at the Tokyo Auto Salon.
- The model was due in 2025, but that timeline has slipped.
A lot has changed since Caterham introduced its fully electric Project V concept all the way back in July 2023. Zero-emission sports cars don’t sound as appealing as they did, with many automakers now rethinking and delaying their electrification plans. But not Caterham.
The British company is preparing to unveil the first working prototype of its EV coupe at the Tokyo Auto Salon next month, a move that signals continued investment in a project it believes has long-term potential.
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According to the latest update, this initial prototype is being used for “testing and evaluation” as Caterham moves toward full-scale production. The company hasn’t pinned down a new launch window, but it’s understood that the previously suggested timeline of late 2025 or early 2026 is no longer on the table.
The last major update came in October 2024, when Caterham confirmed the Project V would use a Yamaha-supplied e-axle. The concept had originally promised 268 hp (200 kW / 272 PS) from a single electric motor, the same configuration Yamaha previously used on the 2022 Subaru STI E-RA concept. That figure still appears to stand.
A few months later, in December 2024, Caterham shared another technical development: the car will use immersion-cooled battery packs supplied by Xing Mobility. These cells, which use CTP (cell-to-pack) architecture, are said to provide 200 Wh/kg of energy density, outperforming traditional liquid-cooled alternatives. In practice, that likely means more range and less weight to carry around.
What’s Next for Project V?
The company’s next steps include continued evaluation of the electric powertrain, additional testing of the Xing battery system, and a round of chassis durability assessments. All of this will help shape the final production model, which still appears to share much with the original design study.
Besides the rolling prototype set to debut on January 9, Caterham also confirmed that the show car will make its US debut at the 2026 CES in Las Vegas on January 6. It’s likely this will be the same white vehicle displayed at the IAA Mobility Show in Munich last September
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Having both cars on the circuit at once suggests that the Project V’s exterior and interior designs will carry over largely intact into the next stage of development.
A New Hand on the Wheel
In other news, Caterham announced last month that Bob Laishley had stepped down as CEO after four years at the helm. Laishley, a former Nissan executive, has been succeeded by Kazuho Takahasi, who is also the President and Founder of parent company VT Holdings.
Commenting on the prototype’s debut, Takahasi said:
“This is a significant milestone in the development of Project V, with our prototype making its public debut at the Tokyo Auto Salon. 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.”
