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McLaren unveils new road car as it seeks to diversify its business

MCLAREN, the Formula One racing group, yesterday unveiled its new road car, creating a UK-based carmaker. The cars, which are intended to rival high-end vehicles Ferrari and Aston Martin, will be built in a factory neighbouring the group&rsquo;s headquarters in Woking.<br /><br />The move comes as part of a plan to refocus its business outside of the racing sphere, where there is high pressure to cut costs. &ldquo;I am confident that now is the right time for McLaren Automotive,&rdquo; said chairman Ron Dennis. McLaren wants to employ 800 staff, making 4,000 cars a year.