McLaren has announced a £500 million investment into its UK manufacturing and engineering facilities. This funding, supported by the Abu Dhabi-based firm CYVN Holdings, is specifically allocated for the development of the company's first performance SUV, internally codenamed P47.
The P47 is slated for a 2028 release and will feature a hybrid powertrain. Unlike previous McLaren vehicles, this model is designed with four doors and five seats. The company plans to manufacture its future engines in-house, moving away from its previous reliance on external partners.
The investment program aims to expand research, development, and production capacity in South Yorkshire, which is expected to create 4,000 new jobs. McLaren intends to launch at least one new model annually through 2028 to improve its profit margins.
In addition to the SUV, McLaren is developing a mid-engine hybrid supercar codenamed P34, which is expected to launch in 2027. The company is targeting a production volume of 1,000 units for the P34 in its first year, positioning it alongside the existing Artura and 750S models.
