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McLaren Creates 1,000 UK Jobs in £450m Overhaul

Financial Times Companies •
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McLaren will create 1,000 jobs in the UK as part of a £450mn investment in its technology centre in Woking, boosting the country’s struggling automotive sector. The investment forms part of a product and strategy overhaul under chief executive Nick Collins following last year’s merger with premium UK electric‑vehicle start‑up Forseven Holdings. The new roles will include indirect and agency workers, with the funds directed at manufacturing and research and development at the Woking site.

McLaren currently employs more than 2,500 people and builds all its cars in the UK. The announcement contrasts with Jaguar Land Rover’s plan to cut 4,000 jobs globally. The UK industry faces pressure from US tariffs, Chinese competition and ambitious EV targets.

Abu Dhabi‑owned CYVN Holdings acquired McLaren’s automotive business from Bahraini fund Mumtalakat last year and pledged to invest $2bn over five years to revive the loss‑making group. Collins said the division had been in “a perilous position” before the acquisition. The revamped board now includes former Ferrari chair Luca di Montezemolo and ex‑Rolls‑Royce boss Torsten Müller‑Ötvös.

Other UK makers such as Aston Martin and Bentley have also streamlined workforces after plummeting sales in China. The UK government, led by Prime Minister Andy Burnham, aims to attract fresh vehicle‑production investment but struggles with high energy costs and deteriorating EU trade terms, including a 10 % EV tariff from early next year.