Supercar maker McLaren to create 1,000 UK jobs as part of £450m tech investment
Summary
McLaren, the British supercar maker, will create 1,000 new jobs as part of a £450 million investment in its technology center in Woking, UK. This move comes as other UK carmakers, like Jaguar Land Rover and Volkswagen, are cutting jobs due to financial challenges and changing global markets.Key Facts
- McLaren plans to add 1,000 jobs at its UK technology center near its manufacturing plant.
- The £450 million investment follows McLaren’s merger with UK electric vehicle startup Forseven Holdings.
- McLaren currently employs about 2,500 people and will add both direct and agency workers.
- Jaguar Land Rover is cutting 4,000 jobs over two years due to falling sales and financial issues, including the impact of tariffs from President Donald Trump’s trade policies and a cyber-attack.
- CYVN Holdings from Abu Dhabi bought McLaren’s automotive business and plans to invest $2 billion (£1.4 billion) over five years.
- European carmakers face stiff competition from Chinese companies like BYD and Chery, which are growing in the UK and Europe.
- Volkswagen announced it will cut 100,000 jobs by 2030 and reduce the number of car models it produces.
- From next year, UK-made electric vehicles will face a 10% tariff when shipped to the EU and will not qualify for EU “made in Europe” subsidies.
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