- The British marque plans to set up shop in Asia
- New focus will be on hybrids and not EVs
- No plans for SUVs anytime soon
McLaren Automotive, the bona fide British supercar maker, now plans to expand its sales network in the Asian markets. After the drop in sales in the United Kingdom, its largest market, McLaren aims to open dealerships in Vietnam and the Philippines along with India and Russia.
The owners of the McLaren Group, led by Bahrain’s sovereign wealth fund, are considering an initial public offering by 2025. An IPO will likely come after all parts of the group are generating cash. This also includes McLaren Racing and a unit that markets technology. Having sold only 4800 cars in 2018, the British marque has already suffered a sales drop of 59 per cent this year, even though the demand in the United States and China remains strong.
More details of the McLaren’s expansion plans are expected to come to light next year. A hybrid car with a new architecture will also be part of the plan. However, McLaren doesn’t want to jump the SUV bandwagon as yet. But by 2024, McLaren will break ground on a new production capacity to increase the sales figures to 6,000 cars per annum. So at the moment, increasing profit is the primary focus for McLaren instead of developing an all-electric car. The EV will surely come but only after lighter, low-cost and solid-state batteries will be available for commercial use, believes the carmaker.
