Externally, the MP4/12 was a more streamlined and refined evolution of the previous year's MP4/11. The engines were supplied by Mercedes-Benz for the third year of the Anglo-German alliance. The car featured a carbon fiber monocoque and aluminum subframes. It had a 90º V8 engine with dry sump lubrication, producing 418.41 bhp per tonne and 600 nm of torque. The FO110E engine was a V10, using an all-new, sand-cast aluminum alloy block, weighing 124kg, and was 17mm lower than the old engine, reducing the car’s center of gravity. This required substantial aerodynamic work on the rear end. A new F-spec version of the Mercedes-Benz engine later in the season produced 740bhp at 16,000rpm.
The MP4-12 incorporated new F1 regulations, including a rear crumple zone, collapsible steering column, reduced winglet area, and suspension components of restricted depth-to-width ratio. Ninety percent of its components were new or redesigned. Adrian Newey joined as Technical Director in August and introduced a revised front wing for the Austrian Grand Prix to improve front-end grip.
During the season, F1 Racing photographer Darren Heath observed the McLarens' rear brakes glowing red in an acceleration zone. The magazine discovered, through cockpit photos, that McLaren had installed a second brake pedal, selectable by the driver, to act on one of the rear wheels. This system, dubbed "brake steer," allowed the driver to eliminate understeer and reduce wheelspin when exiting slow corners. Ferrari's protestations to the FIA led to the system being banned the following season at the 1998 Brazilian Grand Prix.
The MP4/12 proved promising but suffered from reliability issues, particularly with its engine. Coulthard won the first race of the season in Australia, marking McLaren's first win since Ayrton Senna and Mercedes' first F1 win since the 1955 Italian Grand Prix. The FO110E engine was replaced with the FO110F engine from the French Grand Prix, but reliability remained a problem.
Häkkinen retired from three races while leading due to engine failures, including at the Nürburgring, where both cars retired with identical failures within a lap of each other. Coulthard also lost a victory at Montreal due to a clutch problem. However, Coulthard secured another win at Monza.
The team achieved a one-two finish at the season finale after a collision between Michael Schumacher and Jacques Villeneuve. This was Häkkinen's first F1 win. The team finished fourth in the Constructors' Championship with 63 points.
During pre-season testing, the cars initially featured a traditional papaya orange interim livery. They later switched to a new black and light silver livery, launched to celebrate the team's new title sponsorship deal with West, replacing the red and white Marlboro livery used since 1974. The West logos were used except at the French, British, and German Grands Prix, where they were replaced with a "double stars" logo.
McLaren later designed a road car, the McLaren MP4-12C, which shared a similar designation and also featured the "brake steer" system. The MP4-12C's 2012 introduction marked a defining moment for McLaren's auto company, constructed on completely original technology. It featured a carbon fiber monocell and a mid-mounted, twin-turbocharged 3.8-liter V-8 engine.
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