The iconic car brand McLaren has been sold again.
Just seven months after Bahrain’s sovereign wealth fund, Mumtalakat, took control, McLaren Automotive has been acquired by Abu Dhabi’s CYVN Holdings. This was reported by Boosted.
CYVN Holdings is already a major shareholder in the Chinese electric car manufacturer Nio.
While Mumtalakat is selling its stake in McLaren Automotive, it will retain a share in McLaren Group, which includes McLaren’s motorsport ventures. CYVN Holdings will also acquire a minority stake in McLaren Group, although the exact size of this share is still unknown.
CYVN Holdings stated that its acquisition of McLaren Automotive will provide the car brand with additional capital, "advanced engineering expertise, and cutting-edge technology, particularly in electric vehicles."
“This partnership will build on McLaren’s motorsport legacy and develop one of the world’s most recognized high-performance vehicle ranges, supported by a network of over 110 dealers in 30 global regions,” CYVN Holdings said.
The deal aligns with Mumtalakat’s strategy to optimize, enhance, and expand its portfolio to deliver sustainable, long-term financial returns, according to a press release.
Just over a year ago, CYVN Holdings also acquired a controlling stake in Gordon Murray Technologies from the Gordon Murray Group, signaling its intention to expand its footprint in the automotive industry.
No financial details of the CYVN Holdings acquisition of McLaren Automotive have been disclosed. The transaction comes just three weeks after McLaren unveiled its highly anticipated hybrid successor to the P1, known as the W1.
The new model features a 4.0-liter twin-turbocharged V8 engine combined with a hybrid system, delivering a total output of 1,258 bhp and 1,340 Nm of torque, positioning it as a direct rival to the Ferrari F80, which was also introduced earlier this month.
