Ron Dennis will step down from his position as boss of McLaren's hugely successful F1 team, handing over the reigns to Martin Whitmarsh in order to direct his focus onto McLaren Automotive.
The new venture plans to produce a range of up to three different sports cars, spearheaded by the P11 that is already in testing for release in 2010.
McLaren is reported to be aiming at a production run of 1000 vehicles by 2011, with plans to push out to 4000 vehicles in 2015.
Production of a new plant is yet to be announced, but is expected to create an extra 800 jobs to facilitate McLaren’s major growth plans.
Mr Dennis has aims of doubling the value of McLaren in the next three to five years by expanding beyond its current motorsport interests and delving once more and into car production.
Aided by Credit Suisse, McLaren is looking for a £250million injection of funds and is offering 49 per cent of the automotive arm for sale to prospective investors.
Codenamed P11, McLaren's next mid-engined road car seems to be aimed at the like of Ferrari's F430 and Lamborghini's Gallardo, funnelling much of the company's race-sourced technology and materials in its production. Expect a lot of carbon-fibre in the new McLarens, including the brakes.
The main contender picked for powering the P11 is a 6.3-litre V8, sourced from its old buddy and business colleague, Mercedes Benz. Power output could push towards 400kW, and could definitely shake up an already competitive sector.
McLaren have a long and illustrious history with fast cars, and if this newly planned batch of road cars is anything like their first, we better hold onto our hats.
Image courtesy of CarMagazine.