Ricardo signs record £40 million mega deal with sports car brand
A ‘world-beating’ engineering firm has announced a company record £40m a-year contract with a leading sports car manufacturer.
Shoreham-based Ricardo has signed an agreement with McLaren to work on a range of ‘inspiring’ new products.
The deal, starting in 2016, represents the largest new order in Ricardo’s history and the most substantial procurement ever made by McLaren. The two already work closely, with Ricardo manufacturing McLaren’s entire engine requirements since 2011.
Mike Flewitt, CEO of McLaren, said: “Ricardo is a leading name in the development and assembly of world-beating engines, pushing the boundaries of performance and efficiency, and sharing the same core values and objectives as McLaren.”
The Shoreham firm’s high-performance assembly facility, where current engines are produced, will be expanded in order to meet increased capacity requirements.
This will see a total of 5,000 engines produced each year.
Ricardo CEO Dave Shemmans said: “The long-term nature of this agreement underscores the effectiveness of our working relationship to date and provides an exciting opportunity for both companies to continue to work together to deliver further innovative new products.”
He added: “I and the entire Ricardo team look forward to working with McLaren Automotive to fulfil its engine requirements over the coming years, creating truly exceptional UK-designed and manufactured products for global markets.”
Ricardo’s engine facility already supplies engines for the McLaren P1, 12C and 12C Spider road cars, as well as the track-focused models developed by McLaren GT.