McLaren to invest US$675 million to expand UK manufacturing, launch SUV model
LONDON: British supercar maker McLaren said on Tuesday it would invest £500 million (US$675 million) in its UK manufacturing and engineering operations and add new models, including its first-ever SUV, to lift sales and pursue far higher profit margins to rival the likes of Ferrari.
British supercar manufacturer McLaren has announced a £500 million (US$675 million) investment into its UK manufacturing and engineering operations, with plans to launch its first-ever SUV model. The expansion will include a new UK assembly plant and the development of in-house transmissions and engines, resulting in the creation of 1,000 direct and indirect jobs by 2032.
This strategic move aims to increase sales and profit margins, positioning McLaren alongside established luxury brands such as Ferrari. McLaren CEO Nick Collins emphasized the company's commitment to growth, stating that the SUV will bring something unique to the market, appealing to customers seeking high-end utility vehicles. The investment comes as other automakers, including Nissan, Jaguar Land Rover, and Volkswagen, undergo restructuring efforts.
While McLaren has not disclosed specific details about the SUV, Collins affirmed that the automaker will produce a vehicle tailored to customer preferences, maintaining the brand's distinct identity.
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