Caterham has announced the launch of a new standalone engineering business, Caterham Technology and Innovation Limited (CTI). The new company will develop a completely new line of accessible and affordable sportscars inspired by the lightweight, minimalist philosophy of the Seven. The new models will use technologies and materials from the Group’s Team Lotus Formula One and Caterham Team AirAsia GP2 motorsport operations. Also, CTI will work at advanced projects from both automotive and aerospace sectors.
"The new shareholders are committed to investing in an exciting range of global products over the next 10 years," says Mark Edwards, CTI’s Chief Executive. "Tony Fernandes has been very clear from the start that Caterham needed a sustainable research and development business model in order to meet the plans the management have for the road car business. By establishing unique operating principles for CTI, we have managed to attract a world-class team of niche vehicle engineers eager to build on the ethos of Caterham and the DNA of the Seven."