£40m investment and 300 new jobs for Rotherham as supercar company McLaren announces 'biggest' expansion
A new range of luxury models and its first SUV are planned
McLaren is set to invest for a bumper investment in Rotherham which will bring a wave of new jobs, The Advertiser understands.
It is expected that a £40m boost will create around 300 jobs at its carbon fibre parts factory in Waverley.
The supercar company is planning a new building to help double capacity at the McLaren Composites Technology Centre (MCTC) on the Advanced Manufacturing Park, just off the Parkway.
Hundreds of jobs are set to be created at the site and in the supply chain, bosses say.
The expansion is part of a £500m investment into McLaren Automotive set to create 1,000 jobs by 2032.
A new range of luxury models and its first SUV are planned.
The announcement was made by CEO Nick Collins at the firm’s headquarters in Woking, Surrey, and broadcast live to the MCTC factory in Rotherham.
Joe Elford, MCTC plant director, said it was a really ambitious plan which would require a lot of local support.
He added: “We need to attract a lot of local skills into this plant with help from supply chains, universities and colleges. Everyone can play a part.”
Some 14 apprentices were starting this week, he added, although he would not comment on new job numbers.
The Star has since learned the intention is to create 300 roles and invest £40m.
As well as expansion in Woking and Rotherham, the investment will see engine production brought in-house, a new paint shop and a new research facility in the Midlands.
The business is owned by CYVN Holdings, an Abu Dhabi government-owned investment company.
Jonathan Reynolds, secretary of state for Business, Innovation, Science and Trade, was at the launch event in Surrey.
He said the US was McLaren’s biggest market and the UK was the only country in the world to negotiate tariffs down to 10 per cent.
In April last year Donald Trump introduced a damaging 25 per cent import tax on British cars.
India had also cut tariffs from 100 per cent to 10 per cent and it was a “huge market,” he said.
He added: “The UK is and will remain a great car making nation.”
South Yorkshire Mayor Oliver Coppard and Sheffield City Council leader Fran Belbin were at the event in Rotherham.