McLaren Automotive has announced a £1bn product expansion initiative that will see the development of 15 new models and the additional recruitment of 500 staff. The investment is aimed at lifting annual sales from 1,500 too 5,000 units annually.

McLaren Automotive manufactures performance road cars and leverages it’s Formula 1 division to create highly desirable supercars and hypercars. It’s a potent marketing combination that has seen lot of demand.

McLaren confirmed half of the cars made will utilise hybrid technology, the long term goal is to remain completely independent.

The new investment will see McLaren Automotive targeting the rich and not just the super rich, yes these people (demographics) really do exist.

McLaren Automotive recently launched what is seen as an entry level model, the 570GT is a £155k supercar aimed at the so called “rich” McLaren is targeting.

The 570GT is  less track focused than any other comparable McLaren model, rides softer and even offers luggage space.

McLaren Automotive CEO, Mike Flewit said in a statement “We see this [car] as being very easy to drive on a day-to-day basis,” .

McLaren will use 25 percent of the £1bn investment for research and development and this will include an all electric prototype to rival Tesla.

Many of the new jobs created will be for skilled engineering roles. Currently a second shift at the factory has been added to keep up with demand.

Around 90 percent of cars McLaren sell are for export. China sales have slowed but Flewitt was confident of maintaining a strong sales arc.

“We sell cars into 30 markets, with 82 dealerships. As one market comes down – China has dropped this year and last year – other markets strengthen,” he said.