McLaren is preparing to produce its first SUV in its 63-year history, aiming to attract wealthy fans who may not own its supercars. This initiative is part of a £500 million investment by McLaren’s new Abu Dhabi owner, CYVN Holdings. The plan includes creating 1,000 jobs and establishing a new factory, potentially in Sheffield.
According to CEO Nick Collins, the success of McLaren’s racing team has generated an “untapped love” for the brand among potential customers who find two-seater sports cars limiting. The new SUV could significantly boost sales, with COO Michael Straughan suggesting it could double current sales of about 3,000 cars per year.
Despite a government push for zero-emission vehicles by 2035, McLaren currently has no plans for an electric vehicle, focusing instead on the SUV, which is set to compete with luxury models like the Bentley Bentayga and Lamborghini Urus. The investment comes amid challenges for the luxury car market, with other brands facing decline.
Prime Minister Andy Burnham has expressed support for the investment, emphasizing McLaren’s commitment to Britain. The rise in popularity of SUVs has prompted warnings about road safety and the increased danger they pose to pedestrians.
