Caterham Cars has officially launched a new technology business.
It seems that British automaker Caterham aspires to become more. And for anyone who's familiar with the company, this is truly great news. According to a press release they've just issued, Caterham plans to launch a new engineering business called Caterham Technology and Innovation Limited (CTI). Caterham Cars is often best associated as being the builders of the Seven model, but according to the press release, this new standalone engineering business will likely benefit all future models.
They stated the new company "will be responsible for the development of a completely new line of accessible and affordable sports cars inspired by the lightweight, minimalist philosophy of the Seven and drawing on the advanced technologies and materials from the Group's Team Lotus Formula One and Caterham Team AirAsia GP2 motorsport operations." Not only is there a definitive product strategy, but there's also some solid financial backing. CTI's Chief Executive, Mark Edwards stated that "the new shareholders are committed to investing in an exciting range of global products over the next 10 years."