The new McLaren P13 will provide a technical lead over rivals from Porsche and Ferrari, new company chief executive Mike Flewitt has pledged.

The P13 will cost £120,000 when it goes on sale, and will be revealed in time for the Geneva motor show next year. Developed as a rival for the likes of the Porsche 911, it will sit below the 12C in McLaren's line-up, acting as an entry-level model.

Like its siblings, the P13 will use a carbonfibre composite chassis and a version of McLaren’s Ricardo-built, ultra-compact twin-turbo 3.8-litre V8 engine, producing between 450bhp and 500bhp. The engine will be coupled to a seven-speed dual-clutch automatic gearbox, with the P13 promising a 0-60mph time of less than four seconds and a top speed of about 185mph. 

That same engine and chassis have already been confirmed for use in a new stripped-out version of the 12C, which will launch later this year, and is likely to be used in McLaren's proposed new supercar, the P15, scooped by Autocar last week. The development of those models coincides with McLaren chairman Ron Dennis's plan to launch "something of substance" from the firm every year.

The P13's dimensions will make it smaller and lighter than the 1400kg 12C. 
It will be positioned 
as a “pure driver’s car” that 
will improve on the 12C’s already impressive driving dynamics but not compete with it on outright performance. McLaren has already confirmed the production model won't use the P13 name.

The car's styling is believed to be strongly influenced by the McLaren P1, with the 12C also likely to take on a P1-inspired design in the future.

McLaren is planning an annual production target of between 2000 and 2500 units for the P13. This total will go on to include several derivatives of the P13 coupé, including a Spider variant and a stripped-out, extra-performance version along the lines of the Porsche 911 GT3. McLaren says by then its total output should exceed 4000 cars per year.

Once all P13 versions are in production, McLaren Automotive expects to be generating “solid profits” for its backers, who have contributed start-up funds of close to 
£500 million, allowing an 
£80 million budget for research and development and model renewal. Development of the P13 was factored into McLaren Automotive's costs and business plan from the start, meaning the car is able to be offered at a lower price point than the £176,000 12C coupé.

Read Autocar's review of the McLaren P1.

Read more Geneva motor show news.