Caterham has created a separate company, funded by investors, to finance its Project V electric coupé, CEO Bob Laishley has revealed. Speaking on Autocar’s latest My Week In Cars podcast, released today, Laishley said the EV, due to be unveiled in 2026, falls under a separate firm called Caterham Evo, because “the meagre profits we make from selling Sevens” won’t fund its development. He continued: “That will need to come from within the group or external funding.
He had already confirmed that the car wouldn't be built at Caterham's new £5 million facility in Dartford, Kent. Meanwhile, development of the Seven is continuing. Ford stopped making its 1.6-litre Sigma engines in 2021 and has now also finished with its 2.0-litre Duratec engine, and although Caterham has a plentiful stock, it’s seeking a new engine partner and already has a shortlist of interested manufacturers.