The MP4-21 was designed by Adrian Newey, Paddy Lowe, Tim Goss, Mike Coughlan and Peter Prodromou. It succeeded the competitive MP4-20, though it represented a significant departure, with 90% of its 11,500 components changed from the prior season. The switch to the new V8 engine specification allowed for reduced side air intake sizes, yielding aerodynamic benefits. The distinctive needle-nose design had previously been used on the MP4-19 in 2004. The MP4-21 was the first McLaren car to be powered by purely Mercedes-Benz engines, following an eleven-year partnership where Ilmor had acted as the engine builder.
The MP4-21 first appeared on track in late January 2006 at Barcelona. It was initially finished in a historic papaya orange livery before being launched in a chrome finish in February. The car represented a substantial overhaul of the previous year’s design, reflecting the new engine regulations and a desire to maximize aerodynamic efficiency. The reduced size of the side air intakes, a direct consequence of the V8 engine, was a key element of this approach.
During the opening race of the 2006 season, a suspension failure in qualifying forced Räikkönen to start from the back of the grid. Despite this setback, he achieved a podium finish in the race. Montoya secured podiums at San Marino (third) and Monaco (second), but the MP4-21 experienced six retirements in the first seven races. Throughout much of the season, the car was regularly outpaced by the Ferrari 248 and the Renault R26.
At the Monaco Grand Prix, Räikkönen battled Fernando Alonso for the lead for fifty laps before a heat shield explosion forced his retirement. Following the race, Räikkönen immediately relaxed in his jacuzzi on his nearby yacht, still fully dressed in his racing suit. In Canada, Räikkönen started third and Montoya seventh. Räikkönen briefly challenged Alonso before a pit stop issue and a slide on tire residue dropped him down the order. Montoya was involved in an incident with Nico Rosberg and later crashed into the "Welcome to Quebec" wall, resulting in his retirement.
Montoya left the team after the 2006 United States Grand Prix to join Chip Ganassi Racing in NASCAR, with Pedro de la Rosa taking over his seat. De la Rosa achieved a career-best second place at the 2006 Hungarian Grand Prix while driving the MP4-21.
During the Brazilian Grand Prix, Räikkönen responded to a question from ITV pundit Martin Brundle about missing a ceremony honoring Michael Schumacher with a blunt, "I was having a shit". Despite multiple podium finishes for all three drivers, McLaren failed to win a single Grand Prix with the MP4-21. This marked the first season since 1996 that the team did not secure a race victory. Räikkönen finished fifth in the World Drivers' Championship, and McLaren finished third in the World Constructors' Championship with 110 points.
Following the season's conclusion, former two-time World Champion Mika Häkkinen tested the MP4-21 with the possibility of an F1 return, but ultimately did not rejoin the grid. An MP4-21 showcar is currently displayed at the National Motor Museum in Beaulieu, though it is now painted in Jenson Button’s 2010 livery. Chassis 6 was previously on display at the Donington Grand Prix Collection before its closure. An MP4-21 show car is currently for sale via F1 Authentics. Chassis 3, driven by Montoya in the first three Grands Prix of the season and later tested by Lewis Hamilton, sold for £2 million in early 2025 after being fully restored by McLaren in 2019.
The team’s sponsorship agreement with West had ended in 2005, with Emirates and Johnnie Walker becoming primary sponsors. Due to alcohol regulations, the Johnnie Walker logo was modified in certain races: it was replaced with "Keep Walking" in Bahrain, removed entirely in France, and replaced with Diageo, the brand’s owner, in Turkey.
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