British sports car manufacturer Caterham Cars’ first lightweight electric sports coupe concept made an appearance at the IAA Mobility 2025 show in Munich thanks to a partnership with Taiwan battery technology pioneer Xing Mobility Inc. The Caterham Project V EV sports coupe prototype was displayed with Xing’s Immersio CTP (cell-to-pack) immersion-cooled battery technology.

Project V was unveiled globally by Caterham at the Goodwood Festival of Speed in July 2023 and at the Tokyo Auto Salon in January 2024. In December 2024, Caterham and Xing Mobility announced the car would use the Immersio technology.

“As a long-time Caterham 7 owner and enthusiast, it is an incredible honor for us to collaborate with Caterham on this pivotal step in their electrification journey,” said Royce Hong, Founder and CEO of Xing Mobility. “Caterham’s philosophy of simplicity and lightweight design perfectly aligns with our vision for innovation, simplicity, and efficiency.”

“We are so confident that Xing Mobility’s immersion-cooled battery technology will be one of the key technologies for battery cooling in the automobile industry in the near future,” added Takuya Yamazaki, CEO of Caterham EVo, the new entity that supports the Project V venture.

 

Embracing immersion

The Immersio technology, featuring battery cells immersed in dielectric liquid, is said to deliver unmatched thermal stability, exceptional energy density, and safety and performance due to rapid and uniform heat dissipation, and top-class energy density. The system is said to deliver many advantages tailored to meet the compact design requirements of sports cars.

The CTP architecture significantly reduces weight while increasing energy density by eliminating traditional module structures. Its flexible battery pack design enables optimized weight distribution, enhancing vehicle dynamics and handling performance, and its compact design suits Project V’s streamlined chassis.

The immersion-cooling technology’s stable thermal management ensures optimal performance during high-speed and extreme driving conditions. It provides enhanced thermal runaway protection meeting the most stringent safety requirements for high-performance sports car applications.

Founded in 2015 and with a production facility in Taipei, Taiwan, Xing Mobility has become a leader in immersion-cooling battery technology, enabling leading-edge cooling efficiency, fire safety, and performance in extreme climates. Its innovations are driving the global transition to electrification, proven across a range of applications, including passenger and commercial vehicles, agricultural and industrial machinery, energy storage systems, and the world’s first immersion-cooled ESS for wind farms.

Last month, the company announced the signing of an MOU with TotalEnergies to jointly promote cutting-edge immersion cooling battery systems in more sectors. The partnership aims to accelerate the adoption of next-generation battery cooling technologies in European-certified marine solutions as well as high-safety, high-power energy storage systems. It will further extend to critical applications such as sports cars, electrified underground mining machinery, and aviation.

“This collaboration sets the stage for joint market development efforts, leveraging TotalEnergies’ international network and Xing Mobility’s technical leadership to expand the global reach of direct immersion cooling technology,” said Jean Parizot, Vice President Automotive at TotalEnergies Lubrifiants unit.

“By combining our strengths, we’re delivering next-generation solutions for diverse electrification markets and advancing the shift toward a more sustainable energy future,” added Hong.

 

Applying minimalist design to EVs

Caterham has produced lightweight, two-seater sports cars since 1973, when Graham Nearn acquired the tooling, designs, and exclusive rights to the Seven from Lotus founder Colin Chapman. In homage to Chapman, Caterham’s philosophy continues to put the driving experience and fun at the heart of its mission.

In July 2023 at the Goodwood Festival of Speed, Caterham unveiled Project V, the creation of the then-new Caterham Chief Designer, Anthony Jannarelly.

“A Caterham Seven’s design is simple and minimalist,” said Jannarelly. “It’s designed for its intended function, to be lightweight and fun to drive. With Project V, we’re applying this philosophy to the sports coupé architecture to create a seductive and timeless silhouette. Every single feature has to justify itself from a weight perspective to maintain lightness and optimize driver engagement.”

His vision was brought to life by Italian engineering firm Italdesign.

“We’re delighted to have partnered with Caterham and Anthony Jannarelly to bring Project V to life,” said Andrea Porta, Business Development Manager at Italdesign. “At every step, we have applied our experience in producing commercially viable concept and prototype vehicles, to ensure that any future production version can be brought to market at pace.”

The minimalist design philosophy means Project V is lightweight and simple. Caterham is targeting a DIN curb mass of 1190 kg (2625 lb) in a 2+1 configuration, achieved by using an innovative carbon fiber and aluminum composite chassis, with a targeted 4255-mm (167.5-in) length, 1893-mm (74.5-in) width, and 1226-mm (48.3-in) height on a 2581-mm (101.6-in) wheelbase.

“Project V isn’t instead of Seven, it’s complementary to it, and we believe that by retaining the core Caterham values, it will appeal to both our existing customer base and attract new fans to the brand,” said Bob Laishley, CEO of Caterham Cars Ltd. and COO of Caterham EVo. “By using a more practical coupé body style and by exploiting the packaging benefits of an EV, this is a car that works as well for trips to the shops, or the school run, as it does for Sunday morning sprints.”

Among the details revealed for the project was a battery electric powertrain powered by a 200-kW permanent synchronous nominal 400-V e-motor mounted in the rear axle for 0-62 mph (0-100 km/h) acceleration in less than 4.5 s and an estimated top speed of 143 mph (230 km/h). Its 55-kW·h lithium-ion battery pack with advanced thermal management targeted a WLTP range of 249 mi (400 km) and the ability to recharge from 20-80% in as little as 15 min using a 150-kW DC rapid charger.

 

More partner help

The Project V program fulfils the company’s ambition to sustainably grow and explore electrification simultaneously. Helping it carry forward the components of Caterham’s DNA—lightweight, simple, and fun to drive—and partners like Tokyo R&D Co., Ltd. and Yamaha Motor Co., Ltd.

The latter company is independently developing the e-axle, a key component of the electric powertrain, and will supply its trial model for the prototype. It is also providing technologies and expertise in vehicle motion control.

Yamaha Motor has set a company-wide environmental goal to achieve carbon neutrality in Scope 3 emissions by 2050. To do this, it is developing advanced, small, and lightweight electric powertrains, the company’s strength, and in March 2024 announced with Lola Cars its entry into the ABB FIA Formula E World Championship from Season 11.

The Project V show car uses a 2+1 seating layout—though a 2+2 is optional—that optimizes ingress and egress, provides more comfort for the rear seat passenger, and offers greater flexibility in how a prospective owner may use the car. At the center of the interior is a simple, driver-focused infotainment system featuring smartphone mirroring, and a digital instrument cluster is used to display key information.

Drivers can choose between Normal, Sport, and Sprint driving modes that intelligently adjust the acceleration and steering. The concept features double wishbone front and rear suspension with fully adjustable geometry, electrically assisted power steering, 235/35/R19 front and 285/30/R20 rear Michelin Pilot Sport 4S tires, and brake discs all around with high-performance calipers.

“Project V is not just a concept or design study,” concluded Laishley. “We’ve conducted engineering and production feasibility throughout the development process. Subject to the next phases of development and technical capability, Project V could be brought to market towards the end of 2025 or early 2026 with a target price starting from less than £80,000” in the UK market.