McLaren to build SUVs geared towards Formula One fans with children
Summary
McLaren will build its first SUV, targeting wealthy Formula One fans with families. This new model is part of a £500 million investment by McLaren’s Abu Dhabi owner and aims to increase sales and create jobs, with a new factory likely to be built in Sheffield.Key Facts
- McLaren has been making two-seater sports cars for 63 years but will now build an SUV.
- The new SUV is designed for wealthy fans who want a car suitable for families.
- McLaren’s new owner, CYVN Holdings from Abu Dhabi, is investing £500 million and plans to create 1,000 new jobs.
- The company plans to build a new factory, likely in Sheffield, where its carbon-fibre plant is located.
- Current sales are around 3,000 cars per year; McLaren expects sales to possibly double with the SUV.
- McLaren is not planning to make its own electric vehicle yet despite UK laws requiring zero-emission cars by 2035.
- The SUV will compete with luxury models like Bentley Bentayga and Lamborghini Urus, priced above £200,000.
- McLaren Racing, which recently won two Formula One championships, remains mostly controlled by a different investor, Mumtalakat.
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