McLaren Automotive to Invest 500 Million Pounds in the UK, Strengthening Foundation for Future Growth
TECHWORLD ·
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McLaren Automotive announced a 500 million-pound investment program to expand its manufacturing, engineering, and operations capabilities in the UK.
The investment is part of a mid- to long-term investment plan by IMAD Holding Company, and McLaren plans to strengthen its UK-centered design, research and development, and production capabilities.
McLaren plans to establish a new vehicle assembly facility in the UK and strengthen existing production sites, and it plans to create at least 1,000 new direct and indirect jobs by 2032.
McLaren Automotive announced a 500 million-pound investment program aimed at expanding its manufacturing, engineering, and operations capabilities in the UK. Through the program, McLaren Automotive said it aims to build up its core capabilities in the country.
The investment program is intended to accelerate the development and production of next-generation models. It also aims to strengthen the foundation for future growth centered on the UK.
The investment is part of a mid- to long-term investment plan by IMAD Holding Company. IMAD Holding Company is a sovereign investment institution of the Abu Dhabi government and a shareholder in McLaren Automotive.
McLaren plans to strengthen its design, research and development, and production capabilities centered on the UK. Bruce McLaren founded the company in the UK in 1963.
McLaren Automotive plans to expand its production capacity based on this investment. It also plans to gradually scale up production of next-generation models.
McLaren will produce its major future models in the UK, and it will also manufacture the newly confirmed performance SUV in the country. To that end, it will establish a new vehicle assembly facility in the UK and strengthen the operating capabilities of its existing production sites.
McLaren is also planning to expand its product portfolio. The expansion will move beyond supercars to add new segments.
McLaren is also pursuing in-house development and production of future powertrains. Accordingly, it has begun developing 2 new engines and has also started work on a new transmission.
These new powertrains will support McLaren's hybrid strategy. McLaren has hybrid technology and development experience with P1, and it plans to build on that with a next-generation high-performance hybrid system.
In line with these plans, McLaren is also increasing investment in its existing key facilities. It will expand operations at the Woking McLaren Production Centre and also at the McLaren Composites Technology Centre.
McLaren recently opened 2 new facilities in the UK. It established a design and innovation center at the Bicester McLaren Creation Centre and a vehicle testing and development facility in the Midlands. These new facilities are linked with the Woking headquarters and the South Yorkshire carbon fiber facility.
Through this investment, McLaren will establish an integrated operating system in the UK spanning the entire process of design, engineering, vehicle development, carbon fiber technology, and advanced manufacturing. The investment is a move to integrate vehicle development and production-related functions in the UK.
With this investment, McLaren is pursuing the securing of facilities related to the development and production of new models, as well as securing related technologies and specialized talent. Based on this, McLaren Automotive will move to expand its supercar-focused product portfolio.
McLaren Automotive aims to clearly differentiate its product lineup. It also aims to enhance brand value, customer preference, and customer loyalty.
McLaren plans to accelerate the expansion of its product portfolio going forward. It also plans to strengthen its competitiveness in lightweighting, carbon fiber, and advanced manufacturing, and to secure core intellectual property and production capabilities for future vehicle development in the UK. Through this, it will pursue long-term technological competitiveness.
On the employment front, McLaren Automotive said the investment program will create at least 1,000 new direct and indirect jobs at McLaren's UK sites by 2032 while also preserving existing employment. It also plans to double the current production workforce in the UK and launch a new apprenticeship program to train specialists for next-generation automobiles.
Nick Collins, CEO of McLaren Group Holdings and McLaren Automotive, said the investment is an important foundation that strengthens McLaren's distinctive strengths and supports business growth, and expressed his commitment to continuing investment in talent, technology, and products to maintain competitiveness for decades to come.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407058
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Source: TECHWORLD
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