McLaren plans new P1 hypercar, all-hybrid lineup by 2025

McLaren, the British supercar maker and Formula 1 team, announced on Thursday a plan to spend about $1.59 billion to launch 18 new models and transition to an all-hybrid lineup.

One of the new McLaren models on the horizon is a successor to the million-dollar P1 hypercar, which hit the market five years ago. McLaren P1s have fetched more than $2 million at auction.

The expansion plans will boost production by nearly 75% from current levels to about 6,000 cars a year. McLaren said all vehicles will continue to be hand-built at its assembly facility in Woking, England.

“As a global brand we are set to add more retailers in both existing and exciting new markets as demand for our products continues to grow,” McLaren Automotive CEO Mike Flewitt said in a statement.

McLaren is evaluating “several major new markets” including Russia, India and Central/Eastern Europe, the company said. McLaren currently sells its vehicles in 31 global markets through 86 dealers. Its goal is to have 100 retailers worldwide by 2025.

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The Track25 product plan includes new technology initiatives, such as over-the-air software updates and advanced battery systems.

Also this week, McLaren unveiled the 600LT, which packs 592 horsepower and can hit a top speed of 204 mph. The 600LT will have a starting price of 185,500 British pounds, or about $244,000.