This is our first look at a proper prototype of the Caterham Project V

It’s time for a game of spot the difference, because this is the very first running prototype of Caterham’s Project V electric sports car, and there have been a few small tweaks since the covers were whipped off the original show car at Goodwood back in 2023.

Any guesses? Well, have a look round the back and you’ll immediately notice the new rear lights. They’re in to comply with roadgoing regs around the world, and proper door handles replace the flush ones on the initial concept.

The rest of the look – penned by Seven owner and designer Anthony Jannarelly – remains remarkably faithful to that original show car, although there are new wheels on the prototype, and the interior has gone from a three-seat layout to a proper 2+2.

Unfortunately we haven’t been able to have a poke inside yet as we weren’t at the Tokyo Auto Salon where this prototype was unveiled, but Caterham said there’s now a “flat-panel instrument cluster reminiscent of the Seven” and a circular digital display.

This prototype is also apparently “strongly focused on mass production readiness” but that development is still ongoing. We were initially promised a production car in late 2025 or early 2026.

Should be a riot to drive when it does eventually arrive though, with Yamaha supplying the rear-mounted motor that was originally said to produce 268bhp. There’s no update on the weight figure, but Caterham’s original target was 1,190kg and the latest line from its makers is that “while an EV, it strongly inherits the PURE.SIMPLE.FUN DNA cultivated over many years”.