While (like all the companies), Caterham is searching ways to expand its sales, one of solutions was the entering Asia’s most lucrative car market. Two month ago the UK-based company announced that it has signed an exclusive deal with import firm Courtenay Trading International (CTI) to sell its iconic Seven model in China.
Today, Caterham announced a new standalone engineering business, Caterham Technology and Innovation Limited (CTI) that will be responsible for the development of a completely new line of accessible and affordable sportscars inspired by the philosophy of the legendary Seven and developed using advanced technologies and materials from the Group’s Team Lotus Formula and Catrham GP2 racing teams.
Beside this, Caterham Technology and Innovation Limited (CTI) will also undertake advanced projects for external companies. In these projects, CTI will operate 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,” says Mark Edwards, CTI’s Chief Executive.
“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.”
Source: Caterham via MotorAuthority