Should Ferrari fear the beast of McLaren?

Plans have been announced for the production of a supercar at the existing McLaren facility in Woking.

Planned for release in 2011, the makers claim that it will eclipse even the current stars of the genre, the Ferrari 430 and the Lamborghini Gallardo.

At this end of the auto market superlatives abound and enthusiasts with large disposable incomes readily embrace both image and performance statistics.

An unknown motoring journalist once described the process of designing a Ferrari as “starting with the exhaust note, then building forward”.

Lamborghini famously began competing when Mr. Lamborghini, a tractor manufacturer, was snubbed and turned down when he went to purchase a Ferrari.

McClaren states that its new entry will be superior because it has been designed “from the inside out”.

Presumably this means that is developed with the driver experience in mind, rather than external styling.

McLaren claims that the car will test current performance envelopes and offer significant technological innovation in key areas, including safety.

It is rumoured that the power plant will be a Mercedes V8 but no confirmation has been offered.

The car is being produced under the unattractive name of “P11″ but assurances have been given that a more appealing name will be developed for the launch.

If nothing else, the project will create employment opportunities for the Woking district.

The stated plans call for the production of one thousand vehicles a year, rising to four thousand with the introduction of further models.

There may be up to 800 jobs created.

It is viewed as a bold move by McLaren at a time when 2.3 billion pounds of public money has been pumped into the sector to help staggering UK auto manufacturers stay on their feet and to encourage a switch to low carbon technologies.

Credit Suisse will lead the hunt for 250 million pounds of investment and intends targeting high worth individuals as well as sovereign wealth funds.

Bahrain Mumtalakat, Bahrain’s Sovereign Wealth Fund already holds a significant stake in McLaren, as does Daimler.