McLaren has been a successful Formula 1 racing team for 50 years, but McLaren Automotive didn't exist until the company introduced the McLaren MP4-12C, which launched in 2011. Lately, the industry has been buzzing with details on the extreme McLaren P1 hybrid supercar (hybercar?). However, the Woking-based manufacturer is already on to their next project, codenamed "McLaren P13."

The McLaren P13 is designed to be a Porsche 911 contender. Industry experts expect to see the production version P13 debut by the 2014 Paris Motor Show. McLaren's third model is slated to go on sale by early 2015. After the coupe, a retractable hard-top version is expected to follow as well.

Images and technical specifications on the McLaren P13 (which is an internal code name) are limited, but according to Autocar, the P13 will be powered by a twin-turbo 3.8 liter engine producing 444 hp. The McLaren P13 will use the universal carbon fiber MonoCell platform that is also used in the big brothers MP4-12C and the P1. According to engineers at McLaren, the carbon MonoCell technology was developed with the P13 in mind from the very beginning, which means the innovative technology is also extremely cost effective.

According to McLaren Automotive European sales chief David Brimson, the McLaren P13 is positioned at a price point that is anywhere from 30 to 40 percent lower than the 12C. Given that the McLaren 12C starts at $240,000, this means the P13 may start as low as $145,000 to $170,000.

With the addition of the P13, McLaren expects its production volume to grow to about 4000 units in 2015, which will effectively triple McLaren's output.

“We expect to deliver 1400 cars this year, the same amount as in 2012,” said McLaren Automotive CEO Mike Flewitt. “The development costs of the P13 have already been deducted and the production start of the P1 will make a positive contribution to the financial results.