McLaren Automotive, purchased in March by Bahrain’s sovereign fund Mumtalakat, is already undergoing a new change in ownership.
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CYVN Holdings from Abu Dhabi has entered an initial agreement to acquire 100% of the British brand’s automotive division. With this acquisition, CYVN Holdings will bring new financial investment and technical expertise, especially in the electric vehicle sector.
In addition to purchasing the automotive division, CYVN Holdings plans to acquire a non-controlling stake in the McLaren Group, which also includes the racing division. Both companies are exploring a partnership focused on developing more technology for electric vehicles, representing a strategic shift for the brand.
Since Michael Leiters, former Ferrari CTO, took over as CEO in 2022, McLaren has been looking to expand its lineup with models like the hybrid Artura and the 750S supercar. Leiters pointed out quality issues in previous models and even temporarily suspended Artura sales in 2023.
With new investment and CYVN Holdings’ expertise, McLaren is more focused than ever on expanding its portfolio, which could include new front-wheel-drive models and a potential electric SUV.
Source: Motor1.com | Photo: Unsplash | This content was created with AI assistance and reviewed by the editorial team