The new company will be headed by McLaren chairman and former chief executive of McLaren Racing, Ron Dennis. McLaren Automotive plans to develop a range of pure McLaren sports cars, with the first model to be released in 2011.
Dennis said that the company is seeking investment in the region of £250m to build a new McLaren car production facility in the UK, which would employ up 800 people.
Martin Whitmarsh will take over Dennis' previous position with the McLaren Racing and Team Principal of Vodafone McLaren Mercedes. Meanwhile, Richard Lapthorne is to be appointed non-executive chairman of McLaren Group.
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