Caterham, the British builder of lightweight sportscars, has revealed a new electric concept car, the “Project V,” slated for 2026. And its specs look mighty familiar – not too far off from the original Tesla Roadster from 2008.
The announcement coincides with the Goodwood Festival of Speed, a yearly hillclimb race that has become one of the world’s largest assemblies of classic and high-end cars.
There are several fast electric cars out there, which are breaking all kinds of records, including at Goodwood itself. But most of these are either heavy or expensive, not really fitting the lightweight “driver’s car” paradigm which is so popular among enthusiasts.
Despite the modern electric car revolution beginning with the original 2008 Tesla Roadster, a lightweight electric sportscar built on a platform developed with Lotus Engineering, there has been a lack of lightweight electric sportscars since then. We’ve long wanted something like an electric Miata, but this hasn’t been forthcoming.
Well, now Caterham has stepped into the ring with something similar – though not quite in the same price range as that Miata we wanted.
Its new “Project V” concept is a lightweight electric coupe, in keeping with the lightweight Caterham DNA. The company is known for its super-lightweight “Seven” roadster, based off of the design of the original Lotus Seven, and is an extremely popular vehicle with enthusiasts for its handling and modifiability.
The Project V brings this focus on lightweight design into the modern electric car era, with a weight of just 1,190kg (2,623 lbs). That’s about 100 lbs less than the original Tesla Roadster, which, like Caterham, traces its origins back to Lotus DNA. And that’s not where the similarities end.
Where the Roadster had 248-288 horsepower (depending on configuration), the Caterham has 268hp – both rear-wheel drive. Where the Roadster had a 53kWh battery pack, the Caterham will have a 55kWh one. A 393km/244mi range becomes a ~400km/249mi range, and a 0-60 time of 3.9 seconds becomes a 0-62 time of ~4.5 seconds, but with a 29km/h (18mph) higher top speed.
And the Caterham has a composite body and carbon fiber and aluminum chassis, similar to the Roadster’s carbon fiber body and mostly aluminum chassis. Though the Caterham is significantly bigger, at 309mm longer, 20mm wider and 99mm taller than the Roadster was, and the wheels are 3 inches larger (19″ front, 20″ rear).
So, basically, it’s a Tesla Roadster. But new!
The Caterham has some notable and large improvements over the Roadster, though. For one, it has a third seat in the rear, placed in the center of the car, giving it a full 50% improvement over the number of seats in the Roadster. And it will even have an option for a 2+2 configuration, doubling the Roadster’s measly two.
And second, it has DC charging, something which the aging Roadster could never get (except through third-party aftermarket modifications). Caterham says the Project V’s battery will charge from 20-80% in 15 minutes on a 150kW charger, which would represent an impressive 132kW average charge rate on its 55kWh battery.
And clearly it looks different, with an aggressive and less angular exterior than the Tesla had, and a much less bare-bones interior, as far as we can tell from initial photos. It even has CarPlay! And power steering!
However, it’s also missing one thing the Roadster has – a convertible top. Clearly this coupe was designed in the rainy UK, and not sunny California. But hey, maybe they’ll come up with a roadster version in the future.
While Caterham is officially calling this a concept, the company states that it “could be brought to market” in late 2025/early 2026 at a rate of 2000 units per year. Caterham has a target price of “less than £80,000,” equivalent to $103k in US greenbacks (by comparison, the Tesla Roadster’s base price was $109k, without adjusting for inflation).
Electrek’s Take
We’re being a little too glib here with all these comparisons, but hey, Brits are famous for their biting comedy, so we hope they can take it.
Besides, none of this is actually meant as a swipe at the Caterham. I own an early model, low-VIN Tesla Roadster, which is all these comparisons immediately came to mind for me. It was and is my dream car, and it’s the vehicle that ignited my interest in electric cars which led me where I am today.
After driving it for so long, I have difficulty enjoying other cars, particularly any gas car, because my Roadster is such a fun, raw experience. It gives me a connection to the road and to my car’s performance in a way that nothing else out there does.
So it’s awesome to see another car out there that’s got a lot of that same spirit, but a few modernizations to smooth over the quirks in the bucket of bolts that I have always loved. We hope this car gets made, and I can’t wait to get in the driver’s seat and see how it compares.
While Tesla’s continuously-delayed next-gen Roadster update seems like it will be more of a hypercar chasing top speeds and track records, I think there’s room for a modern enthusiast’s EV, a true driver’s car, and the Caterham Project V might just fill that niche for people who know that what you really want is a quick car, not a fast one.
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It’s been a busy time for the North American EV industry’s transition to NACS, the charging standard originally advanced by Tesla and now standardized by SAE.
But this past couple weeks were supposed to be even busier, with Kia having previously planned to roll out Supercharger access on January 15th, according to an announcement the company made back in September. Unfortunately there was a delay, and Kia owners will have to wait until later this quarter for official support.
In the meantime, though, owners had found that you could trick the system into letting you charge by telling it that you have a Hyundai. Hyundai and Kia both build their EVs on the same E-GMP platform, so there are a lot of similarities between them.
Kia, like Hyundai, is also in the process of shipping some of the first vehicles with a native NACS port, with the 2025 EV6 including a native NACS port, much like the 2025 Ioniq 5 does. So this similarity seemed to be able to trick the Supercharger network, and Kia EV6s could charge on it for a little while, assuming use of a third-party adapter.
But that method no longer works, according to several Kia owners. Now, when attempting to charge at a Tesla Supercharger with an EV6 and adapter, the Tesla app will tell you “Unknown error occurred – Your vehicle is not able to charge at Superchargers at this time.” This has been confirmed to be the case even on Supercharger sites that were previously working.
Probably one of the reasons for this is the use of third-party adapters. While third-party adapters are available, manufacturers are always wary when owners use non-verified equipment – especially when it’s related to the most expensive part of the car, the battery.
Kia themselves told us that “warranty coverage may be impacted by use of a third party or aftermarket adapter, and we expect to have our authorized version available in late Q1 2025” when we contacted them about our previous article (though we’re not sure how that would shake out legally – there are a lot of laws covering car warranties and what can and cannot void them).
This isn’t the first time we’ve seen some mix-ups with Supercharger access. Last November, Tesla announced that Nissan cars had access to Superchargers, but it turned out they jumped the gun. Everything is hunky-dory now for Nissan, and it seems like a bunch of new brands will gain access in the coming months, but we expect a few more fits and starts along the way (chaos tends to happen when you fire the whole Supercharger team for no reason).
But, once EV6s do gain access to Superchargers, we expect to see them show exceptional charge performance. The EV6’s cousin, the Ioniq 5, recently showed that it can charge faster than a Tesla, even on Tesla’s home turf. The EV6 should be able to accomplish similar feats, once it is unleashed onto North America’s biggest charging network.
If you’re looking to buy one of the fastest-charging EVs on the road today, use our link to check local dealers and get in line for when they get the new 2025 Kia EV6s in stock.
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Jaguar Land Rover’s investment arm InMotion Ventures has invested $2 million in rare earth magnets recycling company Cyclic Materials, bringing its Series B funding round to $55 million.
Jaguar Land Rover’s InMotion Ventures has invested in a range of technologies including supply chain traceability, battery repair, reuse and recycling, and now, rare earth magnets recycling.
“Cyclic Materials is leading the way in creating a sustainable supply chain for rare earth elements (REEs) and critical materials,” said Mike Smeed, managing director at InMotion Ventures. “Their innovative technologies address a vital need for rare earth magnets recycling, supporting the automotive industry’s transition toward a cleaner and more resilient future.”
Cyclic Materials says it will use the investment to accelerate the expansion of its operations across North America and Europe, boost its processing capabilities, and refine its recycling technologies.
This Series B extension builds on Cyclic Materials’ earlier $53 million round that already has the backing of BMWi, Microsoft, and Hitachi.
Rare earth magnet recycling
Rare earth magnets are a type of permanent magnet made from alloys of REEs, which are part of a set of 17 chemical elements in the periodic table. Rare earth magnets, particularly neodymium magnets, are essential in electric traction motors in EVs. Their strong magnetic fields help deliver high performance and efficiency, which extend an EV’s driving range and reduce battery load.
Rare earth magnets can also be found in everything from data centers and wind turbines to cell phones and power tools.
However, less than 1% of REEs are currently recycled, while the global demand already exceeds supply and is projected to grow threefold by 2030. Ontario-based Cyclic Materials says its proprietary MagCycle and REEPure technologies recycle REEs from a wide range of end-of-life products, establishing a circular supply chain for recycled Mixed Rare Earth Oxides.
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Nissan plans to buy 20 GWh of batteries from SK On, enough to power around 300,000 EVs to be sold in the US. However, after delaying EV production in the US again, when will the new EVs finally arrive?
Nissan revealed plans to invest $500 million in its Canton, Mississippi, plant almost three years ago to prepare the facility for its newest electric vehicles.
Production was initially set to begin in Canton this year, but Nissan pushed the start date back until 2026 last January with concerns over profitability and EV demand. According to the Madison County Journal, the company is now pushing the start date until 2028.
Just yesterday, an Automotive News report claimed Nissan was also canceling plans to build a smaller electric SUV in the US. The SUV was expected to sit between the LEAF and Ariya.
The smaller electric SUV was expected to be the fifth EV built in Canton, following a pair of Nissan and Infiniti electric sedans. Nissan spokesperson Brian Brockman said the company was focusing on other, more profitable projects that would see more demand.
Nissan to buy batteries from SK On for new EVs in the US
Despite the delays, the automaker is still expanding its supply chain in the US to prepare for the upcoming EVs.
A Nikkei report on Thursday claimed that Nissan secured a battery supply from SK On for EV models sold in the US. Nissan agreed to buy 20 GWh of batteries, or enough to power roughly 300,000 EVs.
2025 Nissan LEAF (Source Nissan)
The automaker will reportedly begin installing the new SK-supplied batteries by 2028, which is when it plans to start building EVs in the US.
Nissan’s battery supply deal comes as the company looks to establish a domestic supply chain for EVs in the US.
Nissan Epic electric SUV concept (Source: Nissan)
Although Nissan announced plans to team up with Honda in December to keep pace with EV leaders like BYD and Tesla, it doesn’t expect to realize any substantial benefits until around 2030.
Nissan Motor’s, including Infiniti’s, US market share has dropped 2.1% over the past five years to just 5.8%. In 2024, the automaker sold just over 31,000 electric vehicles in the US, including roughly 20,000 Ariya models and 11,000 LEAFs.
Honda, which began delivering the Prologue just last March based on GM’s Ultium platform, sold over 33,000 models last year.
The new battery supply deal is a start, but in 2028, Nissan will face an influx of new EV models with which it will have to compete.
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