Caterham secures £1.15m investment to drive UK manufacturing and overseas growth
Lightweight sports car manufacturer Caterham has secured £1.15m in funding from Santander to support overseas growth and improve its British production capability.
Santander Corporate & Commercial announced today that its investment would “support the firm’s long-term plan to expand in fast-growing international markets” as well as “further develop its UK manufacturing capabilities”.
Kent-based Caterham, which also has a large site in Sussex and franchises across the country, has been selling versions of Colin Chapman’s iconic two-seater since it acquired the rights to do so in 1973.
It now has seven strong model lines, ranging from the cheerful little 80bhp Seven 160 to the mind-bendingly fast 310bhp Seven 620R. Its cars are available as a kit to construct at home, though a factory-built option is popular.
“The business continues to grow, both in the UK and overseas, and we are focused on capitalising on this strong demand, said Trevor Steel, Caterham’s CFO.
“We have a loyal customer base who recognise and value the cars for their engineering excellence, classic design and driving experience.
“The new partnership with Santander heralds an exciting new era in the history of Caterham Cars.”
While the Caterham remains a recognisably British car, enthusiasm for the marque has expanded across Europe in recent years. Now, fresh markets in places like Taiwan and Columbia are helping to drive growth further afield.