Woking, Surrey, England – McLaren Automotive will become an independent car company later this year, building on its successes with the McLaren F1 and Mercedes-Benz SLR McLaren. The first model in the new range of McLaren sports cars is expected to be launched in 2011.
The company has been engaged for more than two years to develop a range of pure McLaren sports cars. The company is currently one of a number of companies within the McLaren Group, which is undergoing a major restructuring. McLaren Automotive intends to raise fresh equity in addition to the existing investment in the business to complete development of the planned vehicle programs.
Ron Dennis, CEO of McLaren Racing, will become the Executive Chairman of McLaren Automotive, with Martin Whitmarsh taking over Dennis’ role as head of the racing division. “With planned additi0nal investment in the company of £250 million, proposals in place for a new McLaren car production facility in the U.K., and the potential for up to 800 skilled jobs, McLaren Automotive’s expansion will represent a significant investment in the U.K. automotive industry,” Dennis said.