McLaren Announces £1 Billion Investment Plan

McLaren Automotive Ltd. says it will spend £1 billion ($1.4 billion) to launch 15 all-new supercars and derivatives between now and 2022.

The company offered few details. But it says at least half the new vehicles developed under the so-called Track22 plan will be hybrids. McLaren also notes it is in the early prototype stage of an all-electric model. The company did not indicate when the EV may go into production.

McLaren’s first hybrid was the McLaren P1, which debuted in 2013. CEO Mike Flewitt says the next hybrid will bow at the end of the decade. He notes McLaren also will introduce an all-new engine architecture by about 2021.

McLaren reported record sales in 2014 of 1,649 vehicles. The company says it aims to continue its recent policy to rolling out one new model per year.

Last year’s example, described as McLaren’s roomiest and most practical McLaren ever, is the 570S Coupe. Priced at a relatively cheap $204,500, the two-seater can scoot from zero to 60 mph in about 3 seconds and reach a top speed of 204 mph.