McLAREN TECH FOR NEW MODELS: The McLaren Group will be renamed the McLaren Technology Group as the company shifts its focus to new technology for business and its latest models, such as the McLaren 650S (above). Image: McLaren
LONDON, England - The McLaren Group, which includes its Formula 1 team, is changing its name to reflect the company's diversification away from pure racing activities and into applied technology.
The McLaren Group, which employs more than 3000 people with 75% of the staff not involved in motorsport activities, said on Tuesday (Jan 13 2015) it would now be called McLaren Technology Group.
NEW TECH CENTRE
Group chairman and chief executive Ron Dennis said: "We have long proven our capabilities on the world's race tracks and F1 racing is and always will be a core area of activity for us. However, some time ago, we set McLaren on a path of diversification and today it is far more than just a racing team."
McLaren Automotive produced 1648 sports cars in 2014, 21% more than in 2013 and production is projected to increase to more than 4000 a year as new models are added over the next three years.
A planning application has also been submitted for a new, 57 000 square metre “applied technology centre” at its headquarters in southern England to double the existing 'footprint'.
McLaren Applied Technologies provides know-how and support to a range of industries, among them oil and gas, health care, pharmaceuticals, aviation and financial services.
The F1 team, however, has not won a race since 2012 and is starting a new “power unit” partnership with Honda. Spain's two-times F1 champion Fernando Alonso has joined from Ferrari.