Formula One great to develop electric vans, SUVs for carmakers, startups

An undated handout photo of the Gordon Murray Group's T50 supercar, which will go into limited production in 2022 and carry a price tag of 2.4 million pounds. Gordon Murray Group/Handout via REUTERS

LONDON (Reuters) - Supercar maker the Gordon Murray Group said on Tuesday it plans a 300-million-pound ($420 million) expansion over the next five years, which includes developing electric SUVs and delivery vehicles for carmakers as it shifts towards an all-electric supercar by 2030.

"Electric is what we've been missing and that's where the future is," founder and chairman Gordon Murray, the Formula One design great who oversaw one of the sport's most successful cars to date, told Reuters.