Home / Auto News / News article: McLaren To Spend $1 Billion To Develop 13 New Vehicles - AutoGuide.com News
 |  Jun 23 2011, 1:21 PM

McLaren is setting its sight on Ferrari and Lamborghini, and is set to spend $1 billion to develop 13 new models and variants, according to a Bloomberg report.

The announcement comes as McLaren is preparing to launch 35 dealerships this year, and has already spent $320 million to develop their MP4-12C sports car. So far, 2,000 orders have been taken for the MP4-12C, and McLaren expects revenues of $1.6 billion within 5 years, but Chairman Ron Dennis is hoping to sell as much as 47 percent of the company to reduce the company’s debt.

[Source: Bloomberg]