Project Splitwheel – On Hold For Now

Some of you may be aware of Project Splitwheel.  The Project was partnered with Caterham Cars and was destined to design, via all members, a new car.  Unfortunately, Project Splitwheel now appears to be on hold.  This is what they had to say about the pause in activity:

“It is with regret that we announce the postponement of Project Splitwheel.

Sadly, some key sponsors recently pulled out of the Project due to the severe impact of the credit crunch on their businesses and this action has subsequently left us in a position where we are currently unable to deliver the Project with the quality of presentation and content we feel it deserves.

Negotiations with other potential sponsors are ongoing, but unsurprisingly the current economic climate makes it extremely difficult to secure funding, particularly with the automotive industry feeling the pain more than most.

The response to the announcement of Project Splitwheel in November 2008, and the subsequent interest from the press and tens of thousands of car enthusiasts from across the world, has been fantastic and confirmed the validity of our ideas. Our intention remains that we deliver a unique, world-first, crowdsourced car design project for enthusiasts in the near future.

However, given the prevailing circumstances, and after discussion with our partners Caterham Cars, we have decided that, rather than push on with the Project in the short-term without the level of funding and quality of content we feel it deserves, the best course of action is to delay commencement until 2010 or later.

After months of hard work on the website’s development, content and commercialisation, the Splitwheel team is hugely disappointed at having to announce this delay. That said we’d like to thank all those who have joined and contributed to the Project so far, and assure our supporters that we will return as soon as circumstances permit.”

Read more at Project Splitwheel.