McLaren’s £1bn expansion plan to include hybrids

McLaren Automotive has announced a £1 billion expansion plan that will include hybrid technology among up to 15 new models.

According to a report from the BBC, the six year strategy will aim to produce 15 new vehicles or derivatives of existing models, of which are least half are expected to include hybrid drivetrain technology.

The £1 billion investment hopes to raise annual sales from 1,600 to as much as 5,000 units and recruit up to 500 more staff.

As part of the plan, McLaren will look to appeal to a younger demographic by introducing comparatively cheaper models, along the lines of the 570GT unveiled at the Geneva Motor Show which will start are around £150,000.

The average age of a McLaren buyer is over 40 in Europe, and the company wants to reduce this to nearer to the average age of Chinese buyers, who are typically in their 20s.

Mike Flewitt, McLaren Automotive's chief executive, told the BBC: "This business plan confirms that McLaren Automotive will remain proudly and fiercely independent by continuing to build the world's finest two-seater sports and supercars."

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