Once more, a new owner is set to take over McLaren’s road car division. CYVN Holdings has inked a non-binding agreement with Mumtalakat, the Kingdom of Bahrain’s sovereign wealth fund, to buy full ownership of McLaren Automotive, just seven months after the fund acquired a controlling position in the British supercar business.
An Abu Dhabi-based investment organization, CYVN Holdings, is the new owner. The company also holds the largest stake in Nio, an electric vehicle manufacturer. About a year ago, it also purchased the Gordon Murray Group, which is rapidly growing its presence in the automobile industry. Along with the news, CYVN Holdings released a clear mission statement explaining why it now owns McLaren.
“This game-changing investment by CYVN Holdings would provide access to more funding, cutting-edge engineering know-how, and innovative technologies, especially in the electric car space. Building on CYVN Holdings’ prior strategic investments in Nio Inc., Forseven, and Gordon Murray Technologies would also enable the company to take advantage of the team’s extensive cross-industry experience.
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Since the company has been discussing EVs for the future, it would seem natural to take advantage of Nio’s experience with high-performance electric car technology. In 2017, the company drove a prototype EV around the ‘Ring in 7:05. In addition to the road vehicle division, Mumtalakat would provide CYVN Holdings a non-controlling interest in the McLaren Group, which includes the racing division, as part of this arrangement.
The deal’s financials are not public, so the amount CYVN Holdings is spending to acquire full ownership of McLaren is unknown. Less than a month has passed since McLaren debuted the W1, their newest hypercar.
FAQs
CYVN Holdings, an Abu Dhabi-based investment firm, is acquiring McLaren Automotive.
CYVN Holdings aims to leverage its expertise in electric vehicle technology to accelerate McLaren’s electrification efforts. The company’s previous investments in Nio and other automotive ventures indicate its strategic focus on the future of mobility.
While CYVN Holdings is acquiring McLaren Automotive (the road car division), it will also take a non-controlling stake in McLaren Group, which includes the racing team.
