New British car company rises from legend
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In its first announcement since it was taken over by Team Lotus last April, Caterham Cars, makers of the legendary Seven, has released details of a standalone engineering business, Caterham Technology and Innovation Limited (CTI).
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The company will be responsible for the development of a completely new line of sports cars inspired by the lightweight, minimalist philosophy of the Seven and drawing on advanced technologies and materials from the Team Lotus Formula One and Caterham Team AirAsia GP2 motorsport operations.<br />
In addition to the next generation of Caterhams, CTI will undertake advanced projects for external companies operating within the automotive and aerospace sectors, the company said.<br />
“The new shareholders are committed to investing in an exciting range of global products over the next 10 years,” said CTI’s chief executive Mark Edwards. “[Team Lotus owner] Tony Fernandes has been very clear from the start that Caterham needs a sustainable research and development business model in order to meet the plans the management has for the road car business.<br />
“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.”<br />
Among the first in a series of respected industry figures to join the new operation is Tony Shute. Joining as Head of Road Cars for the new business and, as an avid motorsport competitor in his own right, Shute is credited with bringing the ground-breaking Series 1 Lotus Elise to market.<br />
“When the opportunity to be involved with creating the next iconic Caterham arose, I couldn't turn it down,” Shute said. “The core principles and ambitions of CTI have enabled us to attract some of the brightest and most respected talents in their fields.”<br />
The new business will focus on unique vehicle architectures, high performance engines, advanced materials and manufacturing technologies in association with the Formula One and GP2 race teams.<br />
Caterham Cars’ chief executive, Ansar Ali, said that creating a new product range that had the same reputation and appeal as the Seven, which delivered on the promise of accessibility and affordability, was the Holy Grail in the automotive business.<br />
“To meet the challenge, we knew we needed to invest in a new operation that would have the scope, experience and vision to deliver,” he said. “I feel very confident that our customers will be very pleased with the products I have challenged CTI to deliver, in addition to supporting the Seven, and I look forward to revealing our plans in more detail soon.”<br />
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