Latest Caterham Project V Prototype gets Yamaha Power and a New Interior

By: Tejas Kokcha

January 19,2026

4 min read

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Caterham Project V Prototype

It is easy to be cynical about electric sports car concepts. They usually arrive with wild promises, render-grade styling, and a release date that quietly slips into the next decade. When Caterham showed us the Project V back in 2023, you could be forgiven for thinking it was just another pretty shape destined for the "what if" file.

But it seems the company is serious.

Revealed at the Tokyo Auto Salon, this is the first running prototype of the Project V. It is built by Tokyo R&D and is powered by Yamaha.

The Three-Seater is Dead

The biggest news isn't the electric motor; it is the cabin. The original concept had a McLaren F1-style central driving position with two passenger seats tucked behind. It was cool, quirky, and undoubtedly a nightmare to homologate.

Caterham Project V Prototype

That layout has been scrapped. The prototype features a conventional 2+2 configuration. While enthusiasts might mourn the loss of the central seat, the switch to a standard layout means this car actually has a shot at mass production. It is a concession to reality, much like the new exterior door handles. The concept had flush, aerodynamic handles that looked great but the prototype gets proper, mechanical grab handles. We Like!

Yamaha Steps In

We already knew the Project V was aiming for a featherweight status, but we now know what will be powering it. Caterham has partnered with Yamaha to supply the electric powertrain.

This is a smart move. Yamaha knows how to build compact, high-performance engines (just ask Lexus or Ford), and their e-axle technology is designed to be lightweight. The target output remains around 268bhp.

Caterham Project V Prototype

That figure sounds modest in 2026, but context is everything. Caterham is targeting a kerb weight of 1,190kg. If they hit that number, it will be lighter than a Toyota GR86. This is going to be nimble and agile.

Originally, we were told to expect the Project V in late 2025. That date has come and gone. The official line is now that development is "ongoing." However, we are now closer than we were to the full launch.

Feature	Specification
Powertrain	Single Rear Motor (Yamaha)
Power Output	~268 bhp (Target)
Weight Target	1,190 kg
Seating	2+2 (Replaces 3-seat concept)
Partner	Tokyo R&D
Status	Running Prototype

FAQs

Is the Caterham Project V actually being built?

Yes. The reveal of a running prototype proves the project is active. Unlike many EV startups that vanish, Caterham has functional hardware on the ground.

Why did they change the seating layout?

The switch from a three-seater to a 2+2 layout was likely driven by legislation and practicality. A standard layout is easier to crash test and easier to sell to a wider audience.

Who is supplying the motor?

Yamaha. The Japanese giant is providing the electric motor and inverter. Their expertise in compact engineering is key to hitting the car's weight targets.