Caterham has revealed that a working prototype of its all-electric Project V sports car will debut at the Tokyo Auto Salon on 9 January 2026.
The Project V concept originally broke cover at the 2023 Goodwood Festival of Speed as a lightweight rival to Porsche’s forthcoming electric Boxster/Cayman.
In October last year, Caterham confirmed that Yamaha would supply its latest e-axle technology, as well as its expertise in vehicle-motion control, for Project V. Back then, a rolling concept was promised for mid-2025, ahead of the production car’s planned 2026 debut – although that schedule now appears to have been pushed back.
Yamaha’s e-axle will get its electrons from an innovative CTP battery system that features cells immersed in a dielectric liquid. This technology is said to provide rapid and uniform heat dissipation, optimising battery cooling, thermal stability and energy density.
‘This is a significant milestone in the development of Project V, with our prototype making its public debut at the Tokyo Auto Salon,’ said Caterham CEO Kazuho Takahashi.
Takahasi is also the founder and president of VT Holdings – the Japanese firm that acquired Caterham in 2021. Takahashi became Caterham CEO in November 2025, following the resignation of former CEO Bob Laishley.
Caterham is yet to confirm the production car’s price, power or range, although the concept was targeted to cost under £80,000 and was quoted at 268bhp and 249 miles.
The EV landscape has shifted significantly since the Project V concept debuted, with weak demand forcing Porsche – having invested heavily in the technology – to revise its strategy.
In light of this, Porsche has conceded that its forthcoming Boxster/Cayman flagships will still be offered with combustion engines, despite earlier plans to go all-in on EV powertrains. There’s currently no indication that Caterham will follow suit.
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