McLaren announces the development of its first SUV, aiming to boost sales and end years of losses. The £500 million investment will create new jobs in the UK.
McLaren has announced its intention to launch its first SUV, a strategy aimed at increasing sales and reversing years of financial losses. The information, reported by expansion.com, reveals that the British manufacturer expects this new model, which will feature a hybrid engine, to be key in building a second plant in the UK.
The investment of £500 million (approximately €583 million) comes from its owner in Abu Dhabi and is intended to improve its financial balance. The company has observed that competitors like Ferrari and Lamborghini have expanded their offerings with SUV models, contributing to their growth in the sector.
Nick Collins, CEO of McLaren, commented: "I can't think of any region where the SUV hasn't gained a very significant market share, especially in the luxury segments." Although specific details about the SUV have not been revealed, it is anticipated to be available in the coming years.
McLaren, which currently sells over 2,000 cars a year, seeks to raise this figure through its new model, as its current production capacity is insufficient. The company has highlighted that other luxury brands generate between 2,000 and 6,000 vehicles with their SUV models, reinforcing its need for expansion.
The launch of the SUV is part of a broader investment plan that includes the construction of a new assembly plant in the UK, although the location has yet to be decided. This initiative could create at least 1,000 new jobs by 2032, adding to the 2,500 employees currently at the company.
Michael Straughan, Chief Operating Officer, explained that the management team is focused on meeting growth objectives without exceeding financial limits. The new investment will also allow McLaren to design and manufacture its own engines and transmissions, thereby improving its control over the supply chain.
The UK Prime Minister, Andy Burnham, highlighted that McLaren is committed to designing, engineering, and manufacturing its vehicles in the country, reaffirming its commitment to the British market.
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