VT Holdings Limited announced on 9 December 2024 that its subsidiary, Caterham EVo Limited (headquartered in Dartford, Kent, UK), is developing a new EV sports coupe project prototype for mass production and commercialisation: Taoyuan, Taiwan), which is developing an advanced in-vehicle battery cooling technology – the immersion-cooled battery pack – for the prototype of its new EV sports coupe project, which is being developed for volume production and commercialisation.

Caterham unveiled the world premiere of the Project V concept car at the Goodwood Festival of Speed in the UK in July 2023, and in Japan at the Tokyo Auto Salon in January 2024. The Project V is an EV sports coupe that inherits Caterham’s DNA of Light-weight, Simple and Fun-to-drive, which places the highest priority on driving pleasure. In preparation for mass production and commercialisation, Caterham is currently developing and building a prototype vehicle with development partners including Tokyo R&D Corporation (head office: Chiyoda-ku, Tokyo) and Yamaha Motor Co. Following Yamaha Motor’s announcement in October last year that it would supply the e-axle, Yamaha Motor has now decided to supply the battery, another key EV component, and the project is now underway. Project V was again exhibited at the Tokyo Auto Salon in January 2025.

The immersion-cooled battery IMMERSIO™ Cell-to-Pack (CTP) developed by Sin Mobility is a battery pack characterised by excellent heat dissipation, safety and high energy density. The immersion cooling technology, in which the battery cells are immersed in a dielectric liquid, ensures rapid and uniform heat dissipation for high safety and top-class energy density of up to 200 Wh/kg. Sin Mobility is a battery pack manufacturer with a production plant in Taiwan, established in 2015, and is a global leader in immersion-cooled battery technology. (HQ: Fujinomiya, Shizuoka, Japan), and has announced a strategic collaboration in the EV business.