McLaren shifts gears: Abu Dhabi's CYVN takes the wheel
After the March acquisition by Bahrain's sovereign wealth fund, the British brand is changing ownership again. The new owner also hails from the Arabian Peninsula.
7:31 PM EDT, October 30, 2024
Mumtalakat, the sovereign wealth fund of Bahrain, purchased the McLaren Group in the spring of 2024, taking full ownership of both the automotive and sports divisions of the brand. It has been just a few months, and we are witnessing major changes in this sector once again.
A preliminary agreement for acquiring full ownership has been signed with the CYVN holding from Abu Dhabi. This deal primarily concerns the McLaren Automotive division. However, the holding will also obtain minority shares in the McLaren Group, gaining influence over the McLaren Racing Formula 1 team.
Mumtalakat announced that CYVN Holdings' transformative investment will bring increased capital, cutting-edge engineering knowledge, and innovative technology, particularly in the electric vehicle sector.
This suggests that McLaren is likely to intensify its focus on electromobility. Who knows? Maybe the unofficial announcements about an electric SUV will become reality?
