McLaren officially announced the opening of a new chassis production facility, located in Sheffield, UK.

The new McLaren Automotive Composites Technology Centre will be tasked with the development and production of the next-generation carbon-fiber Monocell and Monocage chassis, leading to the creation of more than 200 jobs.

The new facility will be located close to the campus of the Advanced Manufacturing Research Centre at the University of Sheffield and represents a £50 million investment.

With the addition of the new chassis facilities, McLaren targets cost savings of around £10 million when compared to the company’s current costs and £100 million worth of benefits to the local economy.

The new factory will be housed in a 7,000 square-meter building set over four acres of land. McLaren is currently getting ready for the official reveal of the 650S successor which is reportedly going to be named the 720S.

The new McLaren supercar will be the first one to feature the second-gen Monocage carbon tub in its core, making it even lighter and better at the twisty stuff according to the company.

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