McLaren reveals £1bn investment plan

McLaren Automotive is to produce up to 15 new models over the next six years in a £1bn expansion plan that will also see the firm create 500 jobs.

The strategy, named Track 22, should lift annual sales from around 1,600 cars a year to around 5,000 units.

McLaren's news is all the more impressive considering the company only began its current car-making programme six years ago, says the BBC.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up

Track 22 will see the company target a different kind of driver, with an emphasis on attracting the wealthy and not just the super-rich customers able to buy a £1m P1. It is also going for younger customers - the typical McLaren buyer in China is in their 20s, but are over-40 in the European market.

An example of the type of car McLaren hopes can sway customers from Porsche or Ferrari is the new 570GT, which the company has revealed at the Geneva Motor Show. While still a two-seat supercar, several changes over the standard 570S make it more practical and user-friendly.

"Although McLaren's cars are way beyond the price range of most motorists, the company has found a ready supply of buyers for its high-performance two-seaters," says the Daily Telegraph, highlighting that expansion plans actually commit the firm to creating more sports-car models rather than succumbing to the SUV-crossover craze.

Under the new expansion plans, 50 per cent of McLaren's new line-up will be hybrids, with the possibility of an electric hypercar on the cards.

The company confirmed to Top Gear that engineers are currently in the process of developing a fully electric powertrain for a future "Ultimate" series road car. It also said it is working on new combustion engines.

Road & Track picks up on another hint regarding what to expect from McLaren's 15 new cars. The successful introduction of the track-focussed, limited-edition 675LT means the company will now make LT versions of most of its cars, but adds that "the best news is that none of this money will be spent on an SUV, crossover, sedan, pickup, or really any other body style".