McLaren chief puts flotation in pole position

SUPERCAR maker McLaren Automotive could be set to follow in rival Ferrari’s footsteps with a stock market float.

In an interview with The Sunday Times, the Woking-based company’s chief executive Mike Flewitt said a float could be on the cards if strong results continue.

It reported its fourth successive year of profits in 2016, building about 3,200 cars.

‘The more successful we become, the more attractive we become to people who want to invest,’ said Flewitt.

Fellow luxury car maker Ferrari floated on the New York Stock Exchange in 2015, with shares rising by about 62pc since.

McLaren Automotive’s origins lie with McLaren’s Formula One, which was founded by Bruce McLaren in 1963.

For decades, McLaren successfully focused on building race cars, pioneering the use of ultra-light carbon fibre, which had previously only been used in aeroplanes.

McLaren Automotive spun off from the main company in 2010 with the aim of launching a range of supercars which could be used on the road rather than the racetrack. Its first launches were the 12C and 12C Spider in 2011 and 2012, followed by the limited edition McLaren P1 in 2013 ( pictured). It then unveiled the 650s Coupe and 650S Spider in 2014.