McLaren has announced a massive £1 billion investment plan, which will see the introduction of up to 15 new models and the creation of around 500 jobs.

The Surrey-based manufacturer’s six-year strategy will include the production of both all-new cars and derivatives of existing models as it plans to boost its annual sales to as many as 5,000 units.

According to the company, at least half of the cars will make use of new hybrid engine technology pioneered on its flagship P1 hypercar, as it aims to increase performance and reduce emissions.

More affordable supercars

Speaking to the BBC, McLaren’s chief executive Mike Flewitt said: “This business plan confirms that McLaren Automotive will remain proudly and fiercely independent by continuing to build the world's finest two-seater sports and supercars.”

As part of its expansion plan, McLaren will aim to appeal to the rich rather than just the super-rich, with the launch of its entry-level 540C Coupe the first step towards increasing its customer base.

Priced from £126,000, the 540C uses much of the same technology and components as its more expensive stablemates, but undercuts rival cars like the Porsche 911 Turbo S by a significant amount.

500 new jobs

Around a quarter of the money invested will go straight into research and development, including work on an all-electric supercar prototype to rival companies like Tesla.

McLaren also hopes that its new range of cars will reduce the age profile of the typical McLaren buyer, from the median 40-plus in Europe to around the mid- to late-20s.

The plan will also see the addition of 500 staff to McLaren’s roster, and a second production shift has already started at the manufacturer’s factory in Woking to cope with the new cars.