Caterham bets on electric: Project V hits the track for the first time

Caterham has rolled its first running Project V prototype onto a test track. The EV coupe with a Yamaha motor delivers 268 hp, 1,430 kg and under 5 seconds to 100 km/h.

Caterham has shown Project V in motion for the first time: the electric coupe was taken to a test track, where the prototype ran through acceleration, braking and high-speed manoeuvres. For a brand that has spent decades building a cult around lightness and mechanical simplicity, this is one of its riskiest projects yet.

The first running prototype was unveiled in January at the Tokyo Auto Salon. Before that, Caterham had spoken about the car cautiously, though it had already confirmed back in October 2024 that the electric motor would come from Yamaha. In December 2025, the company began evaluating the battery, motor and chassis durability.

Caterham CEO Kazuho Takahashi said: “This next step enables us to launch a comprehensive vehicle testing programme.” He took over the company after the departure of Bob Laishley and remains head of the Japanese group VT Holdings, which bought Caterham in 2021.

Visually, the test Project V is close to the 2023 concept shown at Goodwood. But there are differences: the angular rear lights have been replaced by four round units with an unmistakable Ferrari F355 vibe. The prototype’s steering wheel has been swapped for a Momo unit without an airbag, though it is not yet clear whether this will carry over to the production version. Another change — four seats instead of three on the concept.

The technical figures have become more realistic too. Caterham now quotes 268 hp, a 1,430 kg kerb weight and 0–100 km/h in under 5 seconds. The earlier targets were 1,190 kg and less than 4.5 seconds, but EVs rarely forgive a fight with mass: the battery brings its kilograms regardless.

Expected range is around 400 km, with a 20 to 80% charge taking 20 minutes. For Caterham, the real test will not just be the numbers. Project V has to prove that an electric sports car can keep the edge, the lightness of response and the honesty of handling that this brand is remembered for in the first place.