McLaren has bucked UK automotive industry trends after announcing a £450 million investment into its technology centre in Woking.
The supercar maker is reportedly creating 1,000 jobs here as it looks to overhaul its product line-up under new chief creative officer David Woodhouse, who has experience at Nissan and Ford. It currently employs 2,500 people.
That could include more everyday-style models such as SUVs, rather than its current line-up of supercars such as the F1 and GT models.
The 1,000 new jobs at McLaren, as first reported by the Financial Times, will include indirect and agency workers.
The news comes a day after Jaguar Land Rover announced that it would be cutting 4,000 jobs globally over the next two years.
UK luxury carmakers Aston Martin and Bentley have also streamlined their workforces over the past year after sales fell in China, while German group Volkswagen has announced widespread cuts.
The UK automotive industry is under pressure from US tariffs, fast-growing new brands from China and the Government’s targets for electrical vehicle sales.
Last year McLaren’s automotive division was merged with British premium EV startup Forseven as CYVN Holdings, the Abu Dhabi government-owned investment company which backs Forseven, acquired it from Bahraini sovereign wealth fund Mumtalakat.
Nick Collins, the former Forseven CEO and ex-JLR vehicle programme chief, was appointed CEO of the newly created McLaren Group Holdings. It has also added automotive luminaries such as former Ferrari chair Luca di Montezemolo and ex-Rolls-Royce boss Torsten Müller-Ötvös to its board.
CYVN holds a minority stake in McLaren Racing, its successful Formula 1 team, which is controlled by Mumtalakat.