McLaren to build SUVs geared towards Formula One fans with children
McLaren plans to launch its first SUV to attract Formula One fans who cannot accommodate children in its existing two-seater sports cars. This strategic move is supported by a £500 million investment from new owner CYVN Holdings, which will also create 1,000 new jobs and fund a new factory. The company aims to double its annual sales to approximately 6,000 units by competing in the luxury SUV market with models priced above £200,000.
- ▪McLaren will create 1,000 jobs and build a new factory, likely in Sheffield, as part of a £500 million investment by Abu Dhabi-based CYVN Holdings.
- ▪The new SUV is designed to appeal to wealthy Formula One fans who need more space for families, addressing the limitations of McLaren's current two-seater lineup.
- ▪Company executives expect the new model to double annual sales from the current 3,000 units by competing with luxury rivals like the Bentley Bentayga and Lamborghini Urus.
- ▪Despite a UK government mandate for zero-emission vehicles by 2035, McLaren has stated it has no immediate plans to build an electric vehicle.
- ▪The investment is part of a broader $2 billion turnaround plan for the loss-making automotive division following its acquisition from Mumtalakat last year.
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| Canonical URL | https://www.theguardian.com/business/2026/sep/16/mclaren-build-suvs-geared-towards-formula-one-fans-with-children |
| Publication time | Wed, 16 Sep 2026 08:00:14 GMT |
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McLaren will create 1,000 jobs, adding to its existing workforce of 2,500 people, after a £500m investment by its new Abu Dhabi owner. Photograph: Stan PapiorView image in fullscreenMcLaren will create 1,000 jobs, adding to its existing workforce of 2,500 people, after a £500m investment by its new Abu Dhabi owner. Photograph: Stan PapiorAutomotive industryMcLaren to build SUVs geared towards Formula One fans with childrenCarmaker hopes to double sales with new family car expected at ‘critical’ moment for companyAlex DanielWed 16 Sep 2026 04.00 EDTLast modified on Wed 16 Sep 2026 04.01 EDTSharePrefer the Guardian on GoogleMcLaren is gearing up to build an SUV for the first time in its 63-year history, betting that the glamour of its all-conquering Formula One team can sell cars to wealthy…
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