The bare-bones track car will be priced from 14,995 GBP (AU$25,088) in kit-car form, or 17,995 GBP (AU$30,108) if you would like Caterham to build it for you.
Now we can reveal the tiny engine has been tweaked to produce 60kW, which is enough to carry the lightweight chassis from 0-100km/h in 6.5 seconds, on its way to a top speed of 160km/h.
Suzuki has also provided its five-speed manual gearbox to complement the 660cc engine.
The British carmaker has adopted a new live-axle rear suspension, aimed at keeping costs and weight down while delivering an “intuitive handling experience and a balanced yet playful chassis”.
Caterham Cars CEO, Graham Macdonald, said that as the carmaker continues to grow, they won’t lose sight of where it all began.
“Our commitment to keep evolving the Seven is very much alive, and the 160 offers something truly different to the entry-level market,” Mr Macdonald said.
“The engineering challenges we faced when developing the new vehicle were significant. The engine, suspension and the overall dynamics all needed to work in harmony and the various arms of the group have been successful in pooling facilities and expertise to achieve that.”
The 160 and 165 also promise to be the most economical Sevens to date, with the number five in 165 signifying that the new model is EU5 emissions compliant.
The order book is now open and production of the Caterham Seven 160 and 165 is expected to begin in January 2014, with deliveries overseas to begin in the Australian autumn.