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McLaren Automotive is reported to be planning a £450m investment at its factory in Woking that would create as many as 1,000 jobs, with a formal announcement expected next week.
The money would come from CYVN, the Abu Dhabi government-backed investment firm that owns the supercar maker, according to the reports. The roles would be split between McLaren’s Woking headquarters and a satellite supply plant in Sheffield.
CYVN bought McLaren’s car-making business from Mumtalakat, the sovereign wealth fund of Bahrain, last year. Business Matters reported that the sale followed a record annual loss of £924m in 2023 at the British manufacturer, which was spun out of the Formula 1 team.
CYVN completed the transaction in April 2025, taking McLaren Automotive and a non-controlling stake in McLaren Racing, and forming a combined business called McLaren Group Holdings.
The reported investment follows McLaren Automotive’s merger with Forseven, a British electric vehicle start-up also owned by CYVN. Forseven has bought businesses from Gordon Murray, another small-scale supercar manufacturer, and has shareholder links with Nio, the Chinese electric vehicle group.
McLaren Automotive is led by Nick Collins, who founded Forseven after senior roles at Jaguar Land Rover. In announcing the completed transaction, CYVN said Collins would take over as chief executive of the group.
There is speculation that the overhaul will see McLaren launch several new models, taking the business beyond two-seater supercars and into luxury electric cars.
The automotive press has speculated that the merger will lead McLaren to build an SUV, the type of vehicle that has become the bestseller for other luxury carmakers, including the Rolls-Royce Cullinan, the Bentley Bentayga, the Aston Martin DBX, the Ferrari Purosangue and the Lamborghini Urus.
McLaren’s co-founder Ron Dennis sold his stake in the business almost a decade ago and left.
The reported plans follow news this week that Jaguar Land Rover intends to cut up to 4,000 jobs over two years, many of them in the West Midlands, a decision that came as ministers prepared plans for a government-led reset of British industry.
JLR is targeting about £1.7bn of savings over two years. Jonathan Reynolds, the business secretary, ruled out a rescue package, telling the BBC that the government would provide support “not if it’s to bail people out”, adding: “If it’s about long-term investment in the future, we do invest alongside industry on that.”
UK vehicle production fell 7.5 per cent in the first half of 2026 to 385,979 units, according to figures from the Society of Motor Manufacturers and Traders. Exports fell 5.6 per cent to 294,222 units and output for the domestic market fell 13.2 per cent to 91,757 units. Electrified models accounted for about 40 per cent of the cars built, with production of those vehicles down 8.6 per cent on the year.
Mike Hawes, chief executive of the SMMT, said when the half-year figures were published in July: “Global vehicle production remains under intense pressure, and the UK is no exception. Global market weakness, trade pressures and uncompetitive costs are taking their toll.”
The trade body says the sector contributes more than £85bn in turnover and supports 188,000 manufacturing jobs.
McLaren declined to comment today ahead of the formal announcement of its plans.
