Caterham announced new engineering business for future model development

Caterham has released details of a standalone engineering business, Caterham Technology and Innovation Limited (CTI).

The Company will be responsible 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. In addition to the next generation of Caterhams, CTI will undertake advanced projects for external companies operating within the automotive and aerospace sectors.

The new shareholders are committed to investing in an exciting range of global products over the next 10 years, The new business will focus on unique vehicle architectures, high performance engines, 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 with the Formula One and GP2 race teams.

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