McLaren, a luxury supercar manufacturer, is developing a plug-in hybrid SUV, which it terms a "shared performance vehicle" (SPV), marking a significant departure from its historical focus on two-door exotics. This strategic shift is aimed at expanding the company's market reach and improving its financial stability, as McLaren has faced previous financial struggles and high losses per supercar sold. The company's former CEO, Michael Leiters, and current CEO, Nick Collins, have both indicated the necessity of this move.
This new vehicle is expected to be priced aggressively, closer to the $400,000 mark, putting it in direct competition with high-end luxury SUVs like the Rolls-Royce Cullinan and the Ferrari Purosangue, rather than the slightly lower-priced Lamborghini Urus or Bentley Bentayga. McLaren's leadership believes this pricing strategy aligns with its brand image and aims for exclusivity rather than volume. The SPV will not be a pure electric vehicle, with current and former CEOs, Leiters and Collins, indicating a preference for a plug-in hybrid system, likely utilizing one of McLaren's existing powertrains, such as the V-8 PHEV under development for the 750S replacement.
The development of the McLaren SPV is expected to involve collaboration with another automaker for the core platform, as confirmed by Leiters. This approach would help reduce costs and integrate McLaren's powertrains into an existing modular architecture. While Leiters did not name specific partners, discussions with BMW, which has an adaptable V-8-powered XM PHEV platform, have been mentioned as a possibility. The vehicle will feature high levels of bespoke content and potentially structural changes to reduce mass, maintaining McLaren's emphasis on lightweight design. Production is likely to be handled by the partner due to the specialized nature of McLaren's existing Production Centre.
The decision to pursue an SUV-like vehicle reflects a broader trend among supercar manufacturers, such as Porsche, Aston Martin, Ferrari, and Lamborghini, who have found significant success and profitability in this segment. McLaren's shift comes after years of financial challenges, with recent recapitalization efforts and a new board of directors aiming to stabilize the company. The SPV is crucial for securing McLaren's long-term financial health and supporting the continued development of its core supercar line. However, even with a deal signed soon, the car is still several years away from launch.
