Carmaker McLaren has announced a £500m investment in its UK facilities, including its Woking headquarters, which it says will create 1,000 jobs by 2032. The investment will also cover its carbon fibre manufacturing facility in South Yorkshire.
First Secretary of State Louise Haigh described the investment as a "huge opportunity" to address the "Neets crisis" in Surrey, referring to young people not in employment, education, or training. Prime Minister Andy Burnham called the investment "great news for Woking" and a "big vote of confidence in the UK economy."
The manufacturer also predicted that the spend could create a further 3,000 supply chain jobs. This expansion will allow McLaren to increase its vehicle assembly capabilities and build its engines in-house.