Caterham did not return to Tokyo Auto Salon this year with a production Project V. However, it brought Project V’s latest prototype, developed and manufactured for mass production of the EV sports car to the show. So, yeah, the marque’s first true EV is a step closer to production.
Project V was already shown at Tokyo Auto Salon last year, but this 2026 version is no longer just a pretty idea on a shiny floor. This latest prototype is built with mass production in mind, which means fewer fantasy parts and more things that can survive real roads, real regulations, and real buyers. Development is progressing with help from Tokyo R&D, test drives are already happening, and the goal is to wrap up prototype work by autumn 2025.
Design comes from Anthony Jannarelly, who also owns a Seven, so he gets Caterham’s whole “PURE.SIMPLE.FUN” thing without needing it explained in PowerPoint slides. The front still nods to the Seven’s nose cone, the body stays clean and uncluttered, and the rear lights have been tweaked to behave nicely with global rules. Inside, it now uses a flat-panel dash with a circular digital display, mixing old-school vibes with modern tech. Seating has moved from three seats to a more normal 2+2, making it less weird and more usable.
Power comes from a Yamaha-developed e-axle that combines motor, inverter, and gearbox, while the battery uses XING Mobility’s liquid-immersed cooling system to stay calm under pressure. Underneath, it still rides on Caterham’s tubular steel spaceframe, keeping things light, rigid, and very on-brand.
It will be a while until it comes onto the market, so in the meantime, you can learn more about this exciting new ride from Caterham Cars HERE.
Images: Caterham Cars.
