Prime Highlights-
- McLaren currently employs 2,500 staff, with new roles including indirect and agency positions.
- McLaren Racing has won the last two Formula One constructors’ championships under CYVN’s minority stake.
Key Facts-
- McLaren invests £450 million in Woking, creating 1,000 new UK jobs.
- CYVN Holdings commits $2 billion over five years to support McLaren’s growth.
Background-
British supercar maker McLaren is set to create 1,000 jobs as part of a £450 million investment in its technology centre in Woking, Surrey, near the plant where it builds all its vehicles. The announcement marks a significant boost for the UK’s automotive sector.
McLaren, which merged with premium UK electric vehicle startup Forseven Holdings, currently employs 2,500 staff, and the new roles will include indirect and agency positions. The Financial Times first reported the investment.
Abu Dhabi government-owned investment company CYVN Holdings acquired McLaren’s automotive business from Bahraini sovereign wealth fund Mumtalakat, and has committed to investing $2 billion (£1.4 billion) in the group over five years.
McLaren Automotive, known for performance cars such as its iconic F1 model, is preparing a broader product lineup under chief executive Nick Collins, a former Jaguar Land Rover executive. The company recently appointed David Woodhouse, formerly of Nissan and Ford, as chief creative officer.
CYVN also holds a minority stake in McLaren Racing, the Formula One team based in Woking that has won the past two constructors’ championships, while Mumtalakat retains majority control of the racing business.
Lachlan Buirds, managing director of manufacturer Edale, said McLaren’s investment served as a reminder that UK manufacturing remains a sector with a strong future, adding that modern manufacturing increasingly relies on engineering, automation, software and digital technology, opening up a wider range of career opportunities for young people entering the industry.