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McLaren plans to add 1,000 UK jobs with £450m tech investment
The Woking-based project will bring 1,000 new roles, backed by CYVN after it bought McLaren’s automotive business from Mumtalakat’s automotive ownership.
McLaren plans to create 1,000 jobs in the UK as part of a £450 million investment in its technology centre in Woking, near the plant where it manufactures its cars, according to the Guardian Business. The expanded headcount is expected to include indirect and agency workers, the outlet reported, citing the Financial Times.
The company currently employs 2,500 staff and is adding roles linked to the Woking technology site, the article said. The announcement comes days after Jaguar Land Rover confirmed plans to cut 4,000 jobs over the next two years.
McLaren’s job growth is tied to its ownership changes, after CYVN Holdings, an Abu Dhabi government-owned investment company, acquired McLaren’s automotive business from Mumtalakat. CYVN has said it plans to invest $2 billion, about £1.4 billion, over the next five years in the loss-making group.
The Guardian Business also noted that McLaren is working through a turnaround and potential product changes, and that European carmakers face pressure as Chinese rivals expand. McLaren last year merged with Forseven Holdings, a premium UK electric vehicle startup, and it has appointed a chief creative officer, David Woodhouse, formerly of Nissan and Ford.