The McLaren Group has changed its name to the McLaren Technology Group. The change represents an ongoing shift at McLaren, as the firm increasingly develops into a diversified high-technology company, applying the unique innovation and technology to industries such as oil and gas, healthcare, pharmaceuticals, aviation and financial services.
Explaining the change, Ron Dennis CBE, Chairman and Chief Executive Officer of the McLaren Technology Group said: "McLaren is a company with the expertise and innovative culture required to make a positive impact on the world."
"We have long proven our capabilities on the world's racetracks, and Formula 1 racing is and will always be a core area of activity for us. Racing fuels our competitive spirit, it is our crucible of innovation, it enables us to attract the world's best engineers, scientists and data analysts, and the enormous popularity of Formula 1 provides a unique global marketing platform. We exist to win, and nothing will ever divert McLaren Racing's focus away from that ambition."
"However, some time ago we set McLaren on a path of diversification, and as a result we are today far more than just a racing team. The McLaren companies now employ more than 3000 people, three-quarters of whom are not involved in motorsport. Technology drives everything we do – creating the world's most advanced road cars, working with blue-chip companies to enhance their performance and their products, and/or developing the world’s most robust electronic control systems. Our new name therefore reflects our ever-increasing focus on innovation and the creation of disruptive technologies that will have a positive and far-reaching impact."
"McLaren Applied Technologies has already established an enviable reputation as one of the world's most innovative technology companies, and its shareholders will continue to provide the investment and the support it requires to grow – and grow quickly. With that support and direction, we are confident that the entire McLaren Technology Group can make a positive difference in the years to come."
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