McLaren CEO Nick Collins said the investment follows a restructuring of the company last year after its acquisition by Abu Dhabi-based CYVN Holdings.
British luxury carmaker McLaren Automotive has announced a £500 million ($675 million) investment in its UK manufacturing and engineering operations. The investment will include a new UK assembly plant and the development of McLaren’s first-ever SUV, alongside plans to develop and build its own engines and transmissions.
The company says the expansion could create 1,000 direct and indirect jobs by 2032, as it seeks to increase sales and improve profit margins to compete more closely with luxury rivals such as Ferrari.
McLaren CEO Nick Collins said the investment follows a restructuring of the company last year after its acquisition by Abu Dhabi-based CYVN Holdings.
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