Behold the first Caterham Project V prototype

The electric Caterham creeps closer, now with production-spec details

By Matt Bird / Tuesday, 13 January 2026 / Loading comments

While this might seem familiar as the Caterham Project V Concept seen a couple of years ago, look a little closer and you’ll see one or two things have changed. This is the prototype car exhibited at the Tokyo show, notable for featuring ‘specifications closer to a production vehicle, strongly focused on mass production readiness.’ While the notion of a battery-powered Caterham may still seem odd to some, they’re really forging ahead with gusto: other prototypes are already in build or being driven.

The significant change for this car is the design alterations; the rear has now been tweaked ‘to comply with regulatory requirements in various markets’, which has ultimately made for a less distinctive, less pretty car - although it would hardly be the first time a prototype has turned out less attractive than the preceding concept. Caterham says that overall design, despite the late Lotus Esprit-esque rear treatment, ‘remains faithful to the original concept’, and that’s fair - the Seven-style front grille and overall silhouette are very recognisable from 2023.

The interior is also said to have changed since then, most notably with a two-plus-two layout rather than the three-seat arrangement first mooted. It doesn’t seem like very much will be able to fit behind those front seats, but then there’s only a Yamaha e-axle to think about behind the driver (and not a whole engine), so perhaps it’ll be roomier than expected. Up front, the dash features a ‘flat-panel instrument cluster reminiscent of the Seven, now incorporating a circular digital display.’ Sadly, there are no official pictures of that for the moment, so it would have to be hoped it doesn’t copy the Seven too far - because that’s looked old hat for decades, even by stripped-out sports car standards. Apparently we’re going to get a ‘classical ambience with modern functionality.’

This prototype is underpinned by a tubular spaceframe like a Seven; light and stiff are useful benefits for any sports car, whatever the power source. The battery is low for a good centre of gravity, and the response of the Yamaha axle - which packages together motor, inverter and gearbox - should bring ‘that quintessential Caterham fun-to-drive character.’ It sounds like a tough ask, recreating the raw thrills of a car that’s so famously championed combustion with battery power, but who better to make an EV feel like a Caterham than Caterham themselves? Project V testing is set to continue apace through 2026 - don’t be surprised if there’s significant progress sooner rather than later…