Auto maker, McLaren Group is planning to spend up to $1 billion developing and marketing a series of sports car to take on rivals including Ferrari and Lamborghini in the luxury car segment around the world.

Antony Sheriff, McLaren Automotive’s managing director has said that the company is planning to unveil 13 models in the coming years. The company is also planning to open 35 new dealerships around the world, including nine in the U. S, which is the largest market for luxury cars in the world.

The UK company has opened its flagship London showroom at One Hyde Park. The company says that it will act as an efficient “pitstop” service for repairs.

“I see it as a fantastic challenge to come to the market with a new brand,” Executive Chairman Ron Dennis said. The company has already spent $320 million to develop its high-performance, carbon-fibre-based sports car, the McLaren MP4-12C.

Mr. Dennis also said hat he plans to sell 47 percent of McLaren Automotive by the end of the year to reduce debt. “We don’t like debt,” Dennis said. “Investors have got to be patient but there is very clearly a profit coming after three or four years.”