McLaren used the Goodwood Festival of Speed which took place a few weekends ago, to discuss its plans for the future, up to 2025. The British company is currently utilising a business plan called Track25, under which, McLaren will invest £1.2 billion to kickstart 18 new models and derivatives.
McLaren’s ambitious plans were set out to customers and journalists with the company aiming to produce approximately 6,000 mid-engine supercars a year.
Track25 is an evolution of the Track22 plan McLaren first announced at the Geneva Motor Show in 2016. Back then, Ron Dennis had a firm grip on the company. Since November 2016, Dennis took a step back. Earlier this year it was announced that his entire shareholding had been sold and Dennis resigned completely. In the new era, with Mike Flewitt in charge, the company has updated the plan and expanded the milestones.
Within the headlines was a commitment by the British brand to ensure that its sportscar and supercar range will be hybrid by the end of 2025. Technology from the P1 and McLaren’s race team will undoubtedly help achieve this goal. McLaren have also targeted the development of new technologies to reach an end goal of 30 minutes of electric range around a race track.
The company has made a £50m investment in developing and manufacturing the lightweighting technology. The soon to-open McLaren Composites Technology Centre (MCTC) will help McLaren up it’s production so that 57 per cent of vehicle content by value will be UK sourced.
The 18 new models and derivatives which dominate the headlines will help lift production by almost 75 percent with the aim that all these models are hand-assembled at the McLaren Production Centre in Woking, England. McLaren have a dealership network of 86 at the moment but plan to break into the Russia, India and Central/Eastern Europe market to achieve a goal of 100 retailers by 2025.
Mike Flewitt, Chief Executive Officer said:
“Everyone at McLaren Automotive remains constant in their focus of designing and crafting the world’s best drivers’ cars. True to McLaren’s spirit, however, our ambitions, continue to grow and our £1.2bn Track25 business plan which covers 18 new models, including a new McLaren P1, is clear proof of that. We are a luxury brand that is committed to investing in innovation, whether that’s in the development and manufacture of our own carbon fibre tubs as part of a new £50m British-based production centre, new powertrains with our entire range due to be hybrid by 2025 or the deployment of technology to enhance the driving and owning experience.
“As a global brand we are set to add more retailers in both existing and exciting new markets as demand for our products continues to grow. While our plan sets the direction for the next seven years to take us through to the middle of the next decade, we need to also pause and acknowledge the great effort, ingenuity and competitive spirit of all of our incredible people on which our success, both now and in the future, rests.”